GM in Talks to Sell Medium Duty Truck Unit to Isuzu
Published: September 19th, 2008 Share
The Street is carrying a short story originally broken by Nikkei Net (sort of a Japanese version of Bloomberg) that GM is in talks Isuzu to sell former mistress Isuzu its medium duty truck business. This might sound familiar, as last year GM announced a deal to sell the same business to Navistar. But in August of this year the Navistar deal ran aground. The Dayton Business Journal lays blame for the Navistar deal meltdown at the UAW’s door. Reportedly, the UAW expected new jobs at Navistar’s Springfield factory and a replacement product at GM’s Flint Truck Center. Not surprisingly, “GM couldn’t guarantee a replacement line.” One can only assume Isuzu doesn’t face the same obstacles. But there’s some question about how much Isuzu– already blessed with a strong truck business– needs GM’s medium duty truck unit. In any case, we’ll follow the story as it breaks. Next up on the auction block: Mr. Goodwrench’s wardrobe.
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Published September 19th, 2008 10:51 AM