Navistar International Corp. said Friday that it has received a $123 million order from the U.S. Marine Corps Systems Command to deliver 175 armored International MaxxPro Dash vehicles. Get the full story »
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Agency OKs $314 million bonds for Navistar, others
The Illinois Finance Authority approved up to $314 million of tax-exempt revenue bonds on Tuesday for truck maker Navistar International Corp and others.
Navistar won final approval for $145 million of Recovery Zone Facility Revenue Bonds to help fund its new headquarters and research and development facility in Lisle, Illinois, and a warehouse in Joliet, Illinois.
To issue the bonds, Navistar must get allocations of the federal Recovery Zone Facility Bond volume cap from other Illinois counties and cities, according to the authority. Get the full story »
Kraft, others hope to supersize trucks
When Kraft Foods Inc. packs trucks with weighty items such as jars of Miracle Whip and pouches of Capri Sun juice, 40 percent of the rigs must leave the loading dock partly empty to avoid exceeding federal truck weight limits. Kraft says those rules force it and others to make extra trips and spend more on fuel.
Now, the Illinois food giant is part of a coalition of 150 companies lobbying Congress to allow trucks that are 20 percent heavier on U.S. highways. Supporters of the idea say truckers could pay an extra fee to offset road repairs.
There is an arms race of sorts in the shipping industry — and it is prompting a backlash. Efforts are under way to supersize trucks, trains, and cargo ships as freight haulers look to move more goods in fewer trips. Get the full story »
