Navistar may put Monaco RV up for sale

The statement was issued in response to stories on WSBT and in the South Bend Tribune that the company was looking to sell Monaco RV, which has operations in Wakarusa and Elkhart.

The company, which lost more than $3 billion in the fiscal year that ended Oct. 31, is conducting an analysis of its return on invested capital. A sale of the business could happen, the statement said, although the process is still in its early stages.

"We are not in a position that we 'have to' sell the business. We have a credible turnaround plan for the RV business underway and sufficient cash to continue funding operations, so we have the option to reject any offers that don't add value," the statement read.

Navistar's stock is down almost 39 percent over the past year, and the company acknowledged last August that it was under investigation by the Securities and Exchange Commission. It completed the sale of its joint-venture operations in India to partner Mahindra & Mahindra Ltd. earlier this week.