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THE ASSOCIATES COMPLETES ACQUISITION OF MACK TRUCKS FINANCE OPERATION

 DALLAS, Sept. 1 /PRNewswire/ -- Associates Corporation of North America announced today that it has completed the previously announced acquisition of the assets of Mack Trucks, Inc.'s truck financing operation. The Associates has also entered into a long-term contract with Mack Trucks to offer truck financing to Mack distributors and customers.
 The Associates is part of the Financial Services Group of Ford Motor Company. Mack Trucks, Inc. is a wholly-owned subsidiary of Renault Vehicules Industriels.
 Terms were not disclosed. The truck financing operation, Mack Financial Corporation (MFC), has assets of approximately $565 million in the United States. Another $100 million (Canada) was acquired by an Associates affiliate in Canada.
 "Our experience in truck financing, along with our financial strength, will enable us to bring significant support to Mack dealers and their customers," said Reece A. Overcash Jr., chairman and chief executive officer of The Associates. "Our transportation unit is committed to providing customized and expanded services to the Mack dealer network."
 The Associates Transportation Finance Group is the leading provider of finance for the sale of heavy-duty trucks and truck trailers in the United States. It provides financing and leasing services for every heavy truck manufacturer in the United States.
 The Associates, based in Dallas, has assets of $25.6 billion in the United States and manages assets of $3.1 billion in the United States, Canada, Japan, the United Kingdom and Puerto Rico. It provides consumer financial services, commercial finance and leasing and insurance through 1,484 offices.
 -0- 9/1/93
 /CONTACT: Fred Stern of The Associates, 214-541-4042/


CO: Associates Corporation; Mack Trucks ST: Texas IN: AUT SU: TNM

MP -- NY051 -- 8021 09/01/93 14:30 EDT
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Publication:PR Newswire
Date:Sep 1, 1993
Words:280
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