HARRISBURG, Pa., April 27, 2004 (PRIMEZONE) -- Worldwide industrial services and products company Harsco Corporation (NYSE:HSC) announced today that its SGB Group division has acquired two related businesses in Australia that give the division a solid base to its emerging access services and rental equipment presence in the Australian construction market. Terms of the acquisitions were not disclosed.
SGB has acquired its Australian distributor, Raffia Contracting Pty, and Raffia's sister company, Tower International Pty. Both businesses are based in Sydney, New South Wales, in the heart of a buoyant regional construction market for access products and services currently estimated at between $150-$200 million annually. Raffia Contracting is involved in the supply and erection of scaffolding, working with many of the major contractors in and around the state capital, while Tower International provides light access sales and rentals throughout the area. The combined businesses will be known as SGB Raffia.
"These well-established businesses provide an ideal foundation for building upon the unique range of scaffolding and access equipment and services that SGB offers," said SGB President and CEO Geoffrey D. H. Butler. "Our goal is to grow our initial foothold into a ten percent market share within three years."
The SGB division is part of Harsco's Access Services Segment, one of the world's largest and most complete providers of scaffolding, shoring, forming and other access solutions for major non-residential construction and industrial maintenance projects. The SGB division supports global requirements in Europe, the Middle East, and Australasia, while Harsco's U.S.-based Patent Construction Systems division serves North and South America.
Harsco Corporation is a $2.1 billion, diversified industrial services and products company employing approximately 17,500 people in more than 40 countries of operation. Harsco's market-leading businesses provide mill services, access services, gas and fluid control products, and other infrastructure products and services to customers worldwide. Additional information about Harsco, including its Access Services Segment businesses, can be found at www.harsco.com.
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