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Navistar Will Sell Melrose Park Facility to Developer
Navistar International Corporation plans to sell its Melrose Park, IL facility to a developer. The company didn’t identify the purchaser of the 125-acre site, but said the developer has “an actionable plan to redevelop the parcel into a state-of-the-art industrial business park.”
The property sale is part of Navistar’s continued adaptation to rapid changes in the industry, as well as its own operations. “Given changes at Navistar and in the industry, it no longer makes sense to maintain a facility of that size,” said Phil Christman, president of operations for Navistar. “Further investment in the Melrose Park property would divert substantial resources away from investments in new technologies and products.”
Navistar estimates that half the facility’s current workforce will be transferred to other facilities. The company expects to cease operations in Melrose Park by November 2021, and to take an $85-million charge for its exit from the facility.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
