Detroit Diesel Signs Agreement
January 4, 2000
Detroit Diesel has signed an agreement with SDC International that will help SDC with its planned acquisition and revitalization of the Czech heavy-duty truck manufacturer Tatra.
SDC International is a publicly-traded U.S.-based company initially founded to distribute and finance high-quality industrial and transportation products manufactured in former Communist countries within Central and Eastern Europe.
Presently the Czech government, through its Konsolidacni Banka and its Revitalization Agency, has control of the shares and senior debt of Tatra, whose revenues last year exceeded $200 million and whose assets are just under $200 million.
The agreement with Detroit Diesel provides for development of joint technical and market activities and the use of Detroit Diesel engines in Tatra trucks. In addition, Detroit Diesel will support SDC marketing efforts in areas where Detroit Diesel has a large market share and a developed service network.