Powerscreen case referred to SFO

07 May 1998

Powerscreen case referred to SFO

THE Serious Fraud Office is investigating alleged accounting irregularities at Powerscreen International – the Northern Ireland engineer that has suffered unexpected losses.

The SFO apparently made its decision to probe the engineers activities after yesterday viewing a draft version of a report compiled by KPMG – Powerscreens auditors.

The £46.6 million unexpected loss – announced in January – was attributed to Powersecreens Matbro tractor-making subsidiary. The assets of Matbro and Matbro (NI) were sold last week to John Deere for £7m.

  • Financial Times 07/05/98 page 21
  • The Scotsman 07/05/98 page 25
  • The Times 07/05/98 page 29
  • The Independent 07/05/98 page 23
  • The Daily Telegraph 07/05/98 page 33

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