TRATON’s bid to become the world’s No. 1 truckmaker took a major step forward in early November, with confirmation of its bid to complete the total buyout of America’s Navistar International Corporation.
The deal, worth $US1.7billion, gives TRATON the foothold in the lucrative North American market that it has been pursuing.
It already held a 16.7% stake in Navistar and since March 2017 has worked in a strategic alliance with the US company, which builds International trucks.
The alliance, it says, “has delivered significant value to both companies through increased purchasing scale and the integration of new technologies.” 
This transaction builds on that success by  combining TRATON’s strong position in Europe and substantial presence in South America with Navistar’s complementary footprint in North America to create a global company well-positioned to benefit from enhanced brand performance, increased innovation and industry-leading capabilities. 
“Today’s announcement accelerates our Global Champion Strategy by expanding our reach across key truck markets worldwide, including scale and capabilities to deliver cutting-edge products, technologies and services to our customers,” says TRATON CEO Matthias Gründler. 
“Together, we will have an enhanced ability to meet the demands of new regulations and rapidly developing technologies in connectivity, propulsion and autonomous driving for customers around the world. 
“Navistar has been a valuable partner and we are confident this combination will deliver compelling strategic and financial benefits, create enhanced opportunities for both Navistar and TRATON, and best position us to drive sustained value in the evolving global commercial vehicle industry.” 
Navistar president and CEO Persio Lisboa says that the deal “builds upon our highly collaborative and successful strategic alliance and further enhances the growth trajectory of the combined company, while delivering immediate and substantial value to our shareholders.
“We look forward to continuing to work with the TRATON team to create opportunities for our employees and provide an outstanding experience for our customers and dealers through best-in-class products, services and technologies.” 
Gunnar Kilian, member of the board of management of Volkswagen and responsible for its truck and bus division, says: “Volkswagen is TRATON’s biggest shareholder. The agreement is thus an important milestone for Volkswagen because it underpins our strong strategic commitment to continue driving growth also during the ongoing challenging economic climate. The acquisition of Navistar will significantly leverage TRATON’s positioning in North America, one of the biggest and most profitable markets for heavy trucks. Together, the companies can enhance scale and reach in key markets as well as create further synergies.”