Please update your Flash Player to view content.

4x4Wire is for you, your 4x4 and access issues that interest four-wheelers
You, your 4x4, access issues, places to go and more outdoor topics

Ongoing discussion of recreational and environmental issues for four-wheelers
Ongoing discussion of recreation and environmental issues affecting California

Environmental news and information for recreation advocates
Environmental news and information for recreation advocates

Discussion forums covering a variety of 4x4 model technical issues and general recreation topics
Discussion forums covering 4x4 technical issues and general recreation topics


Search 4x4Wire for more on OHV recreation and 4x4 Tech

Recreation Advocate

The OutdoorWire family websites feature news and information affecting outdoor recreation opportunities and access to public lands. 

Monaco RV Business Sold to Navistar

Monaco Coach Corporation Signs Asset Sale Agreement With Unit of Navistar, Inc.

COBURG, Ore., April 24 /PRNewswire-FirstCall/ -- Monaco Coach Corporation is pleased to announce that the Company has signed a definitive agreement to sell substantially all of the Company's RV manufacturing assets to a unit of Navistar, Inc. for approximately $52 million. The Board of Directors of Monaco Coach Corporation has unanimously approved the transaction.

The closing of the proposed transaction is scheduled to occur no later than June 1, 2009, subject to certain closing conditions and completion of the bankruptcy court approval process, including the auction process and the entry of a final non-appealable sale order of the bankruptcy court pursuant to Section 363 of Title 11 authorizing the transfer of the purchased assets to Navistar. Monaco filed for Chapter 11 bankruptcy relief on March 5, 2009 in Delaware.





Search 4x4Wire for more on OHV recreation and 4x4 Tech




The transaction includes certain manufacturing facilities located in Indiana and Oregon. In addition, Navistar will acquire all brands, intellectual property, inventories and equipment relating to Monaco's motorized and towable recreational vehicle segments.

Excluded from the transaction are the Motorhome Resorts segment, the Roadmaster Cargo Trailer business and several industrial properties. Monaco continues to work with other interested parties regarding the acquisition of its Motorhome Resorts segment and other assets held for sale.

"We are excited to move forward with the tremendous resources of Navistar, Inc. supporting our great products. Everyone at the Company is ready and committed to again build the highest quality RVs in the industry, offer the best customer support and bring jobs back into the communities in which we operate. We appreciate the patience of our employees, dealers, suppliers and RV owners as we navigated through this challenging environment," stated Kay Toolson, Chairman and CEO of Monaco Coach Corporation.

Navistar, with nearly $15 billion in annual sales, is a leading global manufacturer of commercial vehicles, military vehicles, diesel engines and related parts and services.

Monaco cautions that it presently appears there will be no proceeds ultimately available to the Company from this transaction and other potential asset sales sufficient, after payments to creditors, to result in any distribution to the shareholders of Monaco.

About Monaco Coach Corporation:

Monaco Coach Corporation, a leading national manufacturer of motorized and towable recreational vehicles, is ranked as the number one producer of diesel-powered motorhomes. Dedicated to quality and service, Monaco Coach is a leader in innovative RVs designed to meet the needs of a broad range of customers with varied interests and offers products that appeal to RVers across generations.

Headquartered in Coburg, Oregon, with manufacturing facilities in Oregon and Indiana, the Company offers a variety of RVs, from entry-level priced towables to custom-made luxury models under the Monaco, Holiday Rambler, Safari, Beaver, McKenzie and R-Vision brand names. The Company operates motorhome-only resorts in California, Florida, Nevada and Michigan.

Position Statement by Rubicon Trail Foundation
California OHV Sticker Fee Increased
 

Comments

No comments made yet. Be the first to submit a comment

4x4Wire Posts List

OutdoorWire Websites

OutdoorWire

OutdoorWire

Portal page for OutdoorWire Access and Landuse Central Read More
4x4Voice

4x4Voice

California OHV recreation news and information Read More
MUIRNet News

MUIRNet News

News and information about outdoor recreation Read More
4x4Wire

4x4Wire

Off road recreation and news and information Read More
TrailTalk 
Forums

TrailTalk Forums

4x4Wire TrailTalk Forums for 4x4 tech information Read More
  • 1