GE Capital has made a deal with Navistar International and Navistar Financial Corporation to become Navistar's preferred provider of retail financing solutions to support sales of Navistar trucks and school buses in the U.S.
The venture, Navistar Capital, will take effect immediately and should be fully implemented in 90 days.
GE Capital has provided dealer financing to Navistar in Canada since 1986.
"This new alliance will enable Navistar to better support our dealer network and invest more capital in what we do best, which is to manufacture and sell top-quality products," said A.J. Cederoth, executive vice president and chief financial officer of Navistar.
About 60 employees from NFC's retail business will join GE Capital to manage this program.
"GE Capital's financial strength, combined with the NFC team's experience and integration with distribution, will result in a significantly stronger ability to help finance the sale of Navistar products," said Bill McMenamin, vice president, chief financial officer and treasurer, NFC.
"As GE Capital has been working to become a more focused financial services company, we also continue to invest and grow our core businesses," said Dan Henson, CEO, GE Capital, Americas.
The venture, Navistar Capital, will take effect immediately and should be fully implemented in 90 days.
GE Capital has provided dealer financing to Navistar in Canada since 1986.
"This new alliance will enable Navistar to better support our dealer network and invest more capital in what we do best, which is to manufacture and sell top-quality products," said A.J. Cederoth, executive vice president and chief financial officer of Navistar.
About 60 employees from NFC's retail business will join GE Capital to manage this program.
"GE Capital's financial strength, combined with the NFC team's experience and integration with distribution, will result in a significantly stronger ability to help finance the sale of Navistar products," said Bill McMenamin, vice president, chief financial officer and treasurer, NFC.
"As GE Capital has been working to become a more focused financial services company, we also continue to invest and grow our core businesses," said Dan Henson, CEO, GE Capital, Americas.
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