Reuters: Regulatory News: Navistar to take $40-$60 mln restructuring charge

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Navistar to take $40-$60 mln restructuring charge Aug 30th 2012, 21:49 Thu Aug 30, 2012 5:49pm EDT Aug 30 (Reuters) - Embattled truck and engine maker Navistar International Corp said it expected to incur a charge of between $40 million and $60 million in the fourth quarter related to its recent workforce reduction program. The company, which is struggling to win U.S. regulatory approval for a new generation of diesel engine, earlier this month said it was planning to cut jobs through a voluntary separation program. In a separate statement, Navistar International's financial unit said it would renew and increase its largest dealer inventory funding facility to $750 million. "The increase allows us greater flexibility in funding wholesale assets," Navistar Financial Corp's Chief Financial Officer Bill McMenamin said in a statement. The one-year renewal includes an increase of $250 million in anticipation of the maturity of a $350 million debt issuance in October. The facility is funded through three of Navistar Financial's major relationship banks, the company said. Shares of Navistar International closed at $21.47 on Thursday on the New York Stock Exchange.

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