Terex to bid for Powerscreen?
US heavy machinery maker Terex is rumoured to be putting together a bid for Powerscreen, the Northern Ireland engineering company.
The Times reports that Terex is poised to make an offer valuing Powerscreen at £170 million.
The Northern Ireland company hit the news last year after it revealed problems with accounting practices at Matbro, its British subsidiary.
It has since turned itself around with a restructuring programme.
The US group, which has operations in Britain, Ireland, Germany and France, has said that it is keen to expand further in Europe.
- Powerscreen shares climb after bid approach, FWi, 01 April, 1999
- The Times 24/05/02/99 page 47