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Powell Duffryn is to sell Geesink Norba, the Dutch manufacturer of refuse vehicles, to Oshkosh Truck of the US for £91m, in order to focus on ports and shipping.
Powell Duffryn, the ports and engineering group, is to be acquired by Nikko for £507m, and the Japanese broking house is expected to sell off the engineering operations in order to focus on ports and shipping.
Powell Duffryn has acquired Norba, the Finnish manufacturer of parts for refuse vehicles, for £7m.
Powell Duffryn is looking to spend up to £100m on acquisitions to expand its ports and engineering businesses this year, and is particularly interested in buying a second port in northern Europe.
Powell Duffryn has acquired Kvaerner Ships Equipment, the manufacturer of cargo-handling equipment, for £24m, and will merge it with its Hamworthy Marine division.
CPL Industries is acquiring UKPP, the oil distribution subsidiary of Powell Duffryn, for £29m, which completes Powell Duffryn's withdrawal from the fuel distribution business.
Powell Duffryn has sold Eurogas, its liquefied heating fuel subsidiary, to Calor Gas for £13.5m.
Powell Duffryn has sold its UK and South African storage terminals to Koninklijke Van Ommeren of Rotterdam for £16m.