Powerscreen International, the Northern Ireland engineering company which is expected to announce losses of £65 million sterling next month, is understood to have agreed to sell another subsidiary, SDC Trailers. This is part of its asset disposal programme and follows the recent sale of Geith International to its management for £8 million. A spokesman for Powerscreen would not comment on the sale of SDC Trailers, which assembles trailers in Toomebridge, Co Antrim. However, an announcement is imminent and could be as early as this week, according to reliable industry sources. The consideration is not expected to be material.

Powerscreen hopes to raise some £50 million through the sale of non-core assets. Another subsidiary, CPV, a manufacturer of stainless steel vessels for chemical and liquid food transport industries, employing 200 people in Co Monaghan, is also up for sale. Talks are taking place with a number of companies. Hadleigh Plc, a container manufacturer based in Clones, with a full listing on the London Stock Exchange, is understood to be a front runner among the suitors.

Hadleigh generated a pre-tax profit of £2.2 million - down from £2.1 million - on sales of £30.7 million in the year ended March 31st, 1998. The company is valued at some £15 million. Powerscreen is currently under investigation by the Serious Fraud Squad in Britain over alleged irregularities in Matbro, a group subsidiary.