Navistar buys bankrupt Monaco for $50 million

Illinois trucking company Navistar International purchased Monaco Coach, a bankrupt Oregon recreational vehicle manufacturer, for $50 million.

A federal judge in Delaware approved the sale after learning there were no other bidders for the assets of Monaco, which has RV plants in Oregon and Indiana. The deal is set to close June 2.

It still remains to be determined whether Navistar will resume production at the plant in Coburg, Ore., or rehire any of the 2,000 employees laid off before the company filed bankruptcy.

The other Monaco plant is in Elkhart-Goshen, Ind. Navistar has 17,000 employees at plants in Ohio, Alabama, Arkansas, Oklahoma and Canada.