The Coburg-based RV maker Monaco Coach is now a wholly owned subsidiary of Navistar International Corp.
The 41-year-old company and critical employer in Coburg will be called Monaco RV LLC.
Navistar announced Thursday that it had closed the deal to buy Monaco’s assets, including plants in Coburg and Harrisburg, and in Wakarusa and Milford, Ind., as well as its inventory, brands and intellectual property.
At $47 million, the final sales price was $5 million less than what Navistar proposed to pay when the deal was first announced in March. Navistar said it was able to buy Monaco’s assets at a “significant discount” because the company was in bankruptcy.
In a news release, Navistar said the new company will be called Monaco RV LLC and will have its headquarters in Coburg. Navistar said the new company “will resume production at certain facilities in the coming months,” depending on market conditions, but offered no more details of its plans.
“When the time is right,” Navistar spokesman Roy Wiley said.
Read the full story in the Register-Guard.