Grand Vehicle Works Holdings Corp. announced Friday, Aug. 19, the closing of its sale of two subsidiaries, Workhorse Custom Chassis Uptime Parts, to International Truck and Engine Corp.
Plans for the sale were first announced in July. Terms of the cash deal were not disclosed.
Based in Highland Park, Ill., GVW Holdings will continue to own and operate Autocar, a manufacturer of severe service vehicles, and UCBC (Union City Body Company), a contract assembler of step van bodies.
“This sale will allow the GVW Holdings management team to rededicate and refocus all of its efforts and vision on Autocar and to create the same success we achieved at Workhorse,” said Andrew Taitz, chairman of GVW Holdings.
Workhorse, located in Union City, Ind., manufactures chassis for Class A motor homes, buses and walk-in trucks. Uptime Parts, located in West Chicago, Ill., and Reno, Nev., supplies replacement and aftermarket parts for the RV, truck and bus markets Workhorse serves.
International produces commercial trucks, midrange diesel engines and IC brand school buses and is a private-label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets.
