Behind
the news that Navistar International has had to endure a third quarter loss of
$247 million and the subsequent loss of 500 jobs, is the admission the company
is blaming much of the financial loss on its transition to the use of Selective
Catalytic Converters (SCR) for engines powering its medium and heavy duty trucks.
Navistar president and chief
executive officer Troy Clarke admitted: “This includes resizing our company to
match our current business environment.”
He added: "We still
face a few significant challenges, but we have laid the groundwork to solve
them, and obviously, we want to accelerate our rate of progress."
