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McKecknie sells

MCKECKNIE, the engineering and plastics group, has sold its Australian and New Zealand arm in a management buyout for pounds 65m cash. The businesses being sold earned pounds 12.2m in the year to July 1997.

The interests being sold include McKecknie Metals in Australia and New Zealand, the plastics-forming business, Plexicor, the compressed air products company, Jamec-Pem, and the Regency shower screen and wardrobe business.