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Gold/Mining/Energy : Trailmobile Canada TMX (formerly MII)
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To: Mario Gallant who wrote (253)1/20/1999 8:03:00 PM
From: pwatson  Read Replies (2) of 406
 
Re your post of 01/15/99 I think that management didn't just get a life preserver, they got the whole lifeboat. This company lost almost $10m in the last 2 yrs and must have been just about out of cash.
Contrary to the PR stuff we all read they never were able to consolidate all their operations under that one expensive roof. My info is that they were still leasing several other bldgs across Toronto at a considerable cost in $, manpower and productivity.
The Wanandi family , the owners of Trailmobile picked this co up at a great price(for them) and I think that very soon the trailers built at the plant will be to Trailmobile's design and the Mond name will cease to exist.
The "high margin" service work has apparently already been moved to Trailmobiles Mississauga branch.I understand that the plant is basically shut down while Trailmobile upgrades this new facility so that they can be profitable in the long run.
The chances of this co (Trailmobile) becoming publicly traded are slim to none. The creeping takeover idea seems to make the most sense.
The Wanandi family businesses are basically all privately held.
At .40/share along with their options on the DiLillo et al shares Mond's days are numbered.

FWIW.
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