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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (43850)	8/11/2011 1:52:01 PM
From: E_K_S	Read Replies (1) of 78714

Re: Cummins Inc. Common Stock(NYSE: CMI) Navistar International Corporat (NYSE: NAV) finance.yahoo.com Paul - When evaluating Truck engine technology and the new EPA standards, did you run across anything that NAV was doing? Bloomberg had the CEO of Navistar on the radio this morning and he was pretty upbeat that they could meet the new requirements w/ their new state-of-the-art manufacturing truck plant. I have always liked CMI when researching the industry. I saw this article that bodes well for NAV Caterpillar And Navistar To Pursue Strategic Alliance Cat And Navistar To Focus On Global Truck Business And Cooperate On Engine Technologies midnighttrucking.com From the article:"...Under the alliance, Caterpillar and Navistar plan to cooperate on engine development, incorporating "best in class" technologies from both companies. Caterpillar and Navistar intend to work together on development of mid-range engines for diesel applications, such as school buses and utility trucks. This engine development would support each company's stated path not to utilize urea-based Selective Catalytic Reduction (SCR) technology. "There are many opportunities for technology sharing and development that would result in the ability to better meet the worldwide demand for diesel engines in both on and off-highway applications," said Jack Allen, President, Navistar Engine Group...." --------------------------------------------------------------------------------------- I know that Europe has been a leader in diesel engine design and efficiency and really do not know who will be the leader in the next generation technologies for heavy duty trucks. CAT must have some confidence in NAV's new heavy duty engine designs to enter into the strategic relationship described in the article. NAV's Forward PE is lower than CMI but the conservative value play would be to own a little of BOTH companies. EKS

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