Posts Tagged ‘Monaco Coach’

2012 Monaco Knight Motorhome

2012 Monaco Knight Motorhome

Navistar International Corp. officials said Wednesday (Feb. 14) they are looking into selling the company’s Navistar RV unit based in Wakarusa, Ind.

According to a report by WSBT-TV, South Bend, Navistar is in the preliminary stages of its effort to possibly sell the company. In a statement, Navistar representative Steve Schrier said:

“Navistar is conducting a comprehensive review of all of our non-core businesses — including our Navistar RV business — to evaluate their potential to drive long-term profitability and significantly improve our return on invested capital (ROIC).

“As a result of our ROIC analysis, Navistar is listening to offers for the sale of its RV business and the sale of the business is a possibility. However, we are still early on in that process and not accepted any offers at this time.”

Schrier added that Navistar is not in a position where it has to sell the RV portion of the company.

“We have a credible turnaround plan for the RV business under way and sufficient cash to continue funding operations, so we have the option to reject any offers that don’t have value,” Schrier told WSBT, emphasizing the company was not cash-strapped.

The company laid off 29 temporary workers in September. At that time, Schrier said that there were no plans to lay off any of the 500 permanent employees who work at the Wakarusa motorized manufacturing facility.

In 2008, Monaco Coach Corp. laid off nearly 1,500 people and filed for bankruptcy. Then Navistar bought Monaco Coach in 2009. When Navistar acquired Monaco, there were only 20 employees left.

In August 2011, Monaco decided to consolidate its Oregon factory with the factory in Wakarusa. That brought about 400 new jobs to Elkhart County. There are currently about 600 workers between the Elkhart and Wakarusa plants.

Last month nearly two dozen travel trailer manufacturers agreed to pay a total of $14.8 million to resolve claims over elevated formaldehyde levels in FEMA trailers following the 2005 hurricanes. Formaldehyde, a chemical commonly found in building materials, can cause breathing problems and is classified as a carcinogen.

Thousands of travel trailers were purchased by FEMA to house hurricane victims.

Thousands of travel trailers were purchasedby FEMA to house hurricane victims.

 

On Monday the settlement with the travel trailer makers expanded to include claims against Gulf Stream Coach Inc., Forest River Inc., Jayco Inc. and Monaco Coach Corp. Terms of this settlement haven’t been disclosed.

Roughly 60,000 plaintiffs from Louisiana, Texas, Alabama and Mississippi who lived in FEMA trailers after the 2005 hurricanes would be eligible to participate in the settlement.

RV Basics eMail Group

Join Our FREE RVBasics Email Discussion Group

Get current information about the RVing lifestyle, and the RV industry from your fellow RVers. You can also post your own questions. We never share your email address with anyone. Get more info about the RVbasics Discussion Group.
Enter your email address below.

Find a Post by Date
December 2019
M T W T F S S
« Aug    
 1
2345678
9101112131415
16171819202122
23242526272829
3031