Navistar Introduces New Pollution-Reducing Truck Tech
U.S. truck and engine manufacturer Navistar International Corp. has announced that it will introduce a new clean and pollution-reduction engine technology, dubbed In-Cylinder Technology Plus (ICT+), in order to meet the 2010 U.S. Environmental Protection Agency (EPA) emissions regulations.
In ICT+, Navistar's advanced In-cylinder engine expertise has been combined with a urea-based after-treatment. Navistar has developed a system to treat diesel-engine exhaust with a process known as selective catalytic reduction, or SCR. The process that involves filtering exhaust through a urea solution will be used in along with another treatment technology called exhaust-gas recirculation, or EGR.
"Our distinctive solution will leverage the investment and advancement we've made in clean engine technology while providing immediate certainty for our customers, dealers, employees and investors," said Daniel C. Ustian, Navistar chairman, president and CEO. "We have made tremendous progress with in-cylinder technology and with the introduction of ICT+ our goal is to offer the world's cleanest and most fuel efficient diesel engine—benefiting both our customers and the environment for years to come."
This technology will be available by early 2013 and will also help the company to meet the greenhouse gas (GHG) rules in advance of 2014 and 2017 requirements. The company said in a slideshow presentation that its 13-liter engine with SCR technology will be available by early next year, with a 15-liter engine to follow.
“We will need to expand our product development efforts, but we will work hard to minimize this incremental spend,” Andrew Cederoth, Chief Financial Officer, said on a conference call. “When we launch, we anticipate some incremental cost to accommodate the additional hardware.”
Navistar’s stock went down 50% last year, and the company reported a Q2 net loss of $172 million, or $2.50 per share.
“It would be best to allow the process with the EPA to come to completion before we comment further on our financial forecasts,” the company reported in presentation. “As to liquidity, our current position remains stable, and we believe we have access to additional financing sources if appropriate.”