03 April 1998
Powerscreen to sell Universal Conveyor

POWERSCREEN is to sell its Universal Conveyor subsidiary for £1.85 million to E-type Cars, of Leicester.

The disposal by the Northern Irish engineering group is expected to be the first of several.

The sale of Matbro is unlikely before auditor KPMG completes its report into irregularities at the specialist tractor manufacturer, reports The Times.

John Deere, the United States tractor group, is negotiating to buy the company from Powerscreen which was forced to take a £47m charge against irregularities at Matbro.

  • The Times 03/04/98 page 33
  • Financial Times 03/04/98 page 26