Mackie International, the troubled Northern Ireland engineering group, has announced the appointment of Mr Bernard Graney as finance director. He replaces Mr Shaun Harte who, along with Mr Peter Long and Mr Pat Dougan (he remains as a non-executive director), resigned as part of a management restructuring last March. Mr Graney had been divisional finance controller of Perkins, part of Lucas Varity. Prior to that he was financial controller of subsidiaries within the BICC Group.
Mackie said Mr Graney will "lead a strong new finance team which is being assembled to implement revised accounting structures with the group to ensure both stronger financial controls and more efficient operating systems". The company restated its results for 1996 which increased the published losses from £400,000 sterling to £7.2 million. The half year results for 1997 are expected to be published at the end of this month and losses are estimated at £4 million. Following the losses, Mackie raised £5 million in a rights issue. This was essential for continued bank support.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)