The receiver appointed to Peterhead yesterday announced the sale of its two Birchwood subsidiaries. The last of its Irish assets, Kell Sand & Gravel, a quarrying firm in Co Wicklow, is up for sale but no receiver has been appointed and the company is trading normally.

The crane hire and forklift group's trading company, Peterhead, had been listed on the Irish Stock Exchange. The creditors of the Birchwood companies, which were sold to Lex Service, will be paid in full.

A creditors' meeting has been called in Leeds for May 12th where the receiver, Mr Roger Marsh of Pricewater houseCoopers, will make his report on the company, which was put into receivership in February.