DALLAS - Associates Corporation of North America said it has completed the acquisition of the assets of Mack Trucks Inc.'s financing operation.
Associates, part of Ford Motor Co.'s financial services group, also entered into a long-term contract with Mack Trucks to provide financing to truck distributors and costumers.
Terms of the sale were not disclosed. The truck financing operation, Mack Financial Corp., has about $565 million of assets in the United States. Another $76 million, was acquired by an Associates affiliate in Canada.
