TORONTO — The Toronto Stock Exchange halted trading of Mond Industries Inc. stock at 2 p.m. yesterday due to pending news.

Trading of the stock has been heavy in recent weeks on speculation that the company would be sold.

Shares were valued at 69 cents on volumes of 689,066 when trading ended, down from a high of 78 cents shortly after noon. The stock opened the day at 62 cents.

Mond president and CEO Pat DiLillo would neither confirm nor deny that a sale announcement is imminent. Industry rumors persist that the suitor is Chicago-based Trailmobile Trailer Corp.

Mond’s share price has wallowed during the past year, trading as low as 26 cents in early October. The stock sold for 80 cents in the spring, its 53-week high.

However, 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.