POWERSCREEN International chief executive Mr Shay McKeown has said that the company's latest £8 million acquisition in the US holds an important message for the Northern Ireland economy.

The Dungannon based engineering company is to acquire a division of the American conglomerate, JLG Industries.

"I am fed up watching government representatives from Northern Ireland going cap in hand to America", Mr McKeown said, "asking them how to run our country, and saying `invest in us'. We believe in parity of esteem for Northern Ireland companies".

He said that the company is, now not only competing with American firms as equals, but "have actually taken four old them over within the past fed years.

The deal marks the 12th acquisition in 11 years for the Co Tyrone company, expected shortly to announce record annual profits.