24 September 1998
Varity cheated Massey-Ferguson staff

US auto components group Varity has been found guilty of cheating Massey-Ferguson employees out of their medical benefits.

Varity was found guilty in a US Supreme Court judgement of serious and deliberate deception. The company had transferred some of the employees of its Massey-Ferguson business and its obligations to a financially-weakened company called Massey Combines.

This company subsequently failed. Varity is currently seeking the backing of shareholders for conversion into a US company.

  • The Times 24/09/98 page 27