24 May 1999
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.