Navistar buys bankrupt Monaco for $50 million-WEB ONLY

  • Comments
  • Print

Illinois trucking giant Navistar International Corp. has received the go ahead for its $50 million purchase of bankrupt Oregon recreational vehicle
manufacturer Monaco Coach Corp.

A federal judge in Delaware approved the sale Friday after learning there
were no other bidders for the assets of Monaco, which has RV plants in Oregon
and Indiana. The deal is set to close June 2.

It remained unclear whether Navistar will resume production at the plant in
Coburg just north of Eugene, Ore., or rehire any of the 2,000 employees laid off just
before the company filed bankruptcy.

Monaco Coach had been one of the biggest private-sector employers in the
Eugene area before the RV industry collapsed with the economy.

Monaco had major operations in Indiana, but laid off 1,400 people a year ago and closed facilities in Wakarusa, Nappanee, Milford and Warsaw. Navistar has 17,000
employees at plants in Ohio, Alabama, Arkansas, Oklahoma and Canada.

Please enable JavaScript to view this content.

Story Continues Below

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our updated comment policy that will govern how comments are moderated.