Caterpillar and Navistar International Corp. announced a joint venture to develop a 15-liter engine for heavy-duty vehicles. Navistar, which also purchases Cummins engines, would sell the Caterpillar-developed engine under its MaxxForce product line. The project is a way for Caterpillar "to participate in the truck engine industry but not have the exposure of being a direct supplier to it," said Longbow Research analyst Eli Lustgarten.

Full Story:

Related Summaries