Powerscreen sells Geith for 7.15m

23 July 1998

Powerscreen sells Geith for £7.15m

POWERSCREEN International, the troubled Northern Ireland engineer, has sold Geith International for about £7.15 million.

The sale continues the clear-out of assets that was ordered to restore investor confidence after the discovery of financial irregularities at its tractor subsidiary, Matbro.

Geith, which makes construction equipment, was bought by existing management and ICC Venture Capital.

• The Times 23/07/98 page 28