Some Egyptian help for Harvester

It looks as if the financially hard-pressed International Harvester Company will be getting a lift from the Egyptian government.

Egypt has granted new manufacturing contracts to the company, says Sen. Charles Percy (R) of Illinois, who is on a visit to Egypt.

The Peoria-based Harvester, which recently completed an agreement with 193 lenders to stretch out $3.5 billion in short-term loans, will build 105 dump trucks worth $3 million for the Egyptians, Mr. Percy announced.

The company, pushed to the edge of bankruptcy before the refinancing agreement was completed, will also build the Egyptians 42 truck chassis for another $1.45 million.

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK