Mond stock jumps on sale speculation
MISSISSAUGA, Ont. — Heavy trading of Mond Industries Inc. on the Toronto Stock Exchange has fueled speculation that the company will be sold.
Through shortly after noon, shares were trading at 78 cents, up 31.58% from today’s open at 62 cents, on volume of approximately 448,000. Shares traded as low as 26 cents in early October, and sold for 39 cents on Dec. 1.
Mond president and CEO Pat DiLillo would neither confirm nor deny that the company would be sold.
Industry rumors persist that the suitor is Chicago-based Trailmobile Trailer Corp.
The exchange of Mond stock has been strong all month, peaking on Dec. 11 when more than 2.5 million shares changed hands.
Mond is Canada’s largest manufacturer of domestic intermodal containers for the truck/rail transportation sector and designs, manufactures, services and repairs an extensive line of standard and customized trailers, trailer chassis, dry freight vans, refrigerated and heated vans. Mond sells its products in Canada using its own sales force and through a nationwide dealer network.
The company’s shares trade on the Toronto Stock Exchange under the symbol MII.
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