Navistar Mexico, Navistar Inc.’s manufacturing and business presence in Mexico with its headquarters in Mexico City, has declared its intention to begin testing domestic market response to its range of compressed natural gas (CNG) powered trucks. CEO Carlos Pardo, in an interview with T21, explained that, given Mexico’s government-driven push to take up natural gas as an alternative to diesel, opportunity had been created for testing CNG trucks with large corporations handling product distribution, as a precursor to Navistar product introduction in 2013.
Two dual-fuel models, the DuraStar and the WorkStar, will be tested. The dual-fuel option will provide fueling flexibility for truck owners in an environment so far only populated by about seven public access filling stations.
In other company news, Navistar Financial, S.A. de C.V., SOFOM, E.N.R. (NFCx), an affiliate of Navistar Financial Corporation (NFC) and Navistar, Inc., has signed a five-year agreement with Banco Nacional de Comercio Exterior, S.N.C. (Bancomext) for a USD 95 million funding facility. This facility will be used to support trade receivables for the sale of Navistar trucks and buses manufactured in Mexico and exported to Latin America, providing liquidity to Navistar and supporting growing global sales.
NFC provides financing programs and services tailored to support Navistar’s dealer and customer equipment financing needs. This deal represents Navistar’s first line of credit with Bancomext, and one of NFCx’s largest financing facilities in Mexico.
In the Unites States in February this year, parent company Navistar launched a comprehensive natural gas strategy, including integrated natural gas product offerings and a strategic partnership with Clean Energy Fuels Corp. that will provide customers with a sustainable, commercially viable solution for adding natural gas powered trucks to their fleets.
Navistar will leverage its existing commercial truck and engine platforms to offer the broadest portfolio of integrated products for the natural gas market. At that time Navistar said it will meet the growing demands of the regional haul and class 7/8 vocational market Navistar by offering the Cummins-Westport ISL-G, in the International TranStar and WorkStar.