Potential Buyer for Lister Petter?
A potential buyer has stepped forward for Lister Petter, the UK-based engine maker which recently entered administration. The local member of parliament, Neil Carmichael, said he had held meetings with a possible purchaser for the company.
The company’s administrators, CBA Insolvency Practitioners, is expected to issue a statement shortly on recent developments at the company.
Lister Petter, based in Dursley, England, has roots going back more than 140 years to and at its peak had more than 5000 employees and operated factories, distribution, warehouse hubs and customers in more than 160 countries.
The company makes engines with power outputs from 2.1 to 258 kW, generator sets from 4.6 to 248 kVA, pumps for irrigation, lighting towers and engine-driven welders. Applications served include construction, agriculture and marine.
This is not the first time the company has sought administrative relief. In 2003, Lister Petter appointed administrators to restructure the company’s finances after delays in funding arrangements from banks and creditors. It was sold to its current owners in 2004.