HARRISBURG, Pa., Oct. 3, 2005 (PRIMEZONE) -- Worldwide industrial services and products company Harsco Corporation (NYSE:HSC) said today that it has completed the sale of its Youngman light access manufacturing unit in the UK. The unit, which had been part of the international SGB Group access services business that Harsco acquired in 2000, produces a range of light access products including aluminum ladders, steps, and towers that are sold through UK do-it-yourself home improvement outlets as well as to trade customers. Terms of the transaction were not disclosed.
"Our exit from the Youngman business is another reflection of our continuing strategic focus on Harsco's growing core industrial services base," said Derek C. Hathaway, Harsco Chairman, President and CEO. Consistent with that strategy, Harsco last month announced its plans to acquire the Germany-based Hunnebeck Group GmbH, Europe's third-largest provider of highly engineered construction formwork and scaffolding services. That acquisition, expected to close within the fourth quarter of this year subject to regulatory approvals, is expected to increase annual revenues within Harsco's Access Services segment to nearly $1 billion and add six additional countries.
The Youngman operations consist of a single manufacturing facility in Maldon, Essex on England's southeastern coast, employing just over 300 people. External sales last year were approximately $60 million.
Harsco Corporation is a diversified, worldwide industrial services and products company with annual sales in excess of $2.5 billion. The company's four market-leading business groups provide mill services, access services, engineered products and services, and gas containment and control technologies to customers worldwide. Harsco employs approximately 18,500 people at over 400 locations in more than 40 countries of operation. Additional information about Harsco, including its Access Services segment businesses, can be found at www.harsco.com.
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