Mar 1, 2001 12:00 PM
Dina Defaults on Interest Payment; Shares Suspended
The Mexican Stock Exchange temporarily suspended trading in shares of Consorcio G Grupo Dina SA after the bus and truck maker said it would miss a $6.5-million interest payment. The payment originally was due Jan 16, 2001, and had a grace period of 30 days.
Shares of the Mexican truck maker will be suspended for no more than 60 days, the Mexican Stock Exchange said.
Dina said it would default on the interest payment of the $164-million bond. Gamaliel Garcia, chief executive officer of Dina, said the company had scheduled a meeting with bondholders to start debt restructuring talks.
Dina is currently in litigation with Western Star Trucks, suing for breach of contract, in the Paris-based International Arbitration Court of the International Chamber of Commerce.
Freightliner Corp, upon buying Western Star Trucks, canceled a contract for delivery of 9,000 Class 7 trucks that Dina has with Western Star. Dina had already delivered 600 trucks under the contract.
Beall Corp Adds Sales Rep
Beall Corp has appointed Pedro Arroyo D as manufacturer's sales representative for Mexico. Arroyo has been in the transportation industry for several years, and his most recent position was as an independent sales representative with Century Wheel & Rim. He resides in the Mexico City area and will be responsible for new and used trailer sales. His phone number is 011-52-644-1630.
Sistemas Ecologicos has been named as a Beall service and warranty center for Mexico. Located in Guadalajara and owned by Beall customer Luis Velarde, Sistemas Ecologicos can be phoned at 011-52-3684-4337.
Keller Videos Help Drivers Take on Extreme Conditions
J J Keller & Associates Inc offers its Extreme 7-Minute Solutions, a new driver training videotape series focusing on extreme driving conditions. The series consists of three seven-minute videos, each covering a different extreme driving situation: wind, rain, and rollover.
Each video is accompanied by an instructor's bulletin featuring training tips and 10 driver skill cards that reinforce points. This video series is available for $169 by phoning 800-327-6868. Videos also are available separately for $69 each. Callers should reference Action Code 1075 when ordering.
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