Mexican truck maker Dina is in financial trouble after Western Star canceled a contract for 9,000 medium-duty trucks last year.
Dina defaulted on a debt payment due this week, and plans to hold a meeting in New York next week to begin talks on restructuring its debt.
Trading of Dina's stock on both the New York Stock Exchange and its Mexican counterpart have been suspended.
Dina took legal action against Western Star last October. After buying Western Star, Freightliner decided to terminate the agreement with Dina market the Western Star Class 7 Solar Series product line. Freightliner said a marketing alliance with Dina or any third party did not fit well with its long-range strategic plans.
Dina defaulted on a debt payment due this week, and plans to hold a meeting in New York next week to begin talks on restructuring its debt.
Trading of Dina's stock on both the New York Stock Exchange and its Mexican counterpart have been suspended.
Dina took legal action against Western Star last October. After buying Western Star, Freightliner decided to terminate the agreement with Dina market the Western Star Class 7 Solar Series product line. Freightliner said a marketing alliance with Dina or any third party did not fit well with its long-range strategic plans.
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