Navistar Announces Plans to Build Step Van, RV Chassis

July 5, 2005 8:01 AM, EDT

Navistar International Corp. said Monday it had entered into an agreement to acquire Workhorse Custom Chassis, a manufacturer of step vans and motor homes.

Financial terms of the all-cash deal were not disclosed, but Navistar said it expected to complete the transaction by the fiscal fourth quarter of 2005.

Workhorse built more than 18,000 Class 3-6 step vans and motor homes in 2004.