April 27, 2009 (FinancialWire) — Bankrupt Monaco Coach Corp. (OTC: MCOAQ) (Current Market Cap: US$2.99 Mil.) has agreed to sell its RV manufacturing assets to a unit of Navistar, Inc. (NYSE: NAV) for around $52 million.

The closing of the proposed transaction is scheduled to occur no later than June 1, subject to certain closing conditions and completion of the bankruptcy court approval process. Monaco filed for Chapter 11 bankruptcy relief on March 5, in Delaware.

The transaction includes certain manufacturing facilities located in Indiana and Oregon. In addition, Navistar will acquire all brands, intellectual property, inventories and equipment relating to Monaco’s motorized and towable recreational vehicle segments.

Excluded from the transaction are the company’s motorhome resorts segment, its Roadmaster cargo trailer business and several industrial properties. Monaco said it continues to work with other interested parties regarding the acquisition of its motorhome resorts segment and other assets held for sale.

Navistar is a manufacturer of commercial vehicles, military vehicles, diesel engines and related parts and services.

Coburg, Oregon-based Monaco Coach is a manufacturer of motorized and towable recreational vehicles. The company has manufacturing facilities in Oregon and Indiana. It operates motorhome-only resorts in California, Florida, Nevada and Michigan.

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