Monaco Coach completes sale of its $47 million RV business asset

By Caroline Salls

Pittsburgh, June 4 - Monaco Coach Corp. has completed the $47 million sale of some of the assets related to its recreational vehicle manufacturing business to Navistar International Corp., according to a Navistar news release.

"Navistar's entry into the RV business through the purchase of certain Monaco Coach assets fits our strategy of leveraging our assets to expand our diesel business, serve the end customer through robust parts and service, and will complement our Workhorse chassis business," Navistar's North American truck group president Jack Allen said in the release.

"The Monaco brand is a market leader with a strong reputation and Navistar is pleased to add it to our portfolio of leading brands and businesses."

According to the release, the new company, named Monaco RV LLC, will be a wholly owned affiliate of Navistar Inc., Navistar's principal operating company.

As previously reported, production at Monaco Coach was halted before its bankruptcy filing. Navistar said Monaco RV will resume production at some facilities in the coming months.

The sale was approved on May 22 by the U.S. Bankruptcy Court for the District of Delaware.

Monaco Coach, a Coburg, Ore.-based designer, manufacturer and seller of motor coaches and towable recreational vehicles, filed for bankruptcy on March 5. Its Chapter 11 case number is 09-10750.

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