WARRENVILLE, Ill., Oct 29 (Reuters) - Truck maker Navistar International Corp. said on Tuesday it will take a fourth-quarter restructuring charge of $456 million as it struggles to return to profitability.
The company, based in Warrenville, Illinois, said the charge includes previously announced costs to close its Chatham, Ontario, heavy truck plant and stop operations at Springfield, Ohio body plant and the Line 2 assembly operation.
Other charges include costs associated with a lower manufacturing headcount, asset write-downs relating to the company's V6 diesel engine program with Ford Motor Co. and costs related to exiting the domestic truck market in Brazil.
The Ford portion of the charge will be $120 million to $130 million , or $190 million to $210 million pre-tax. Its decision to exit the Brazilian truck market effective Oct. 31 will result in a pre-tax charge of $70 million.
Navistar shares fell 73 cents, or 3.4 percent to $20.92 in early afternoon trading on the New York Stock Exchange.