Harsco's Infrastructure Group Announces Sale of Non-Core Rovacabin and Eventlink Businesses in the UK
June 02 2011 - 9:14AM
Worldwide industrial services and engineered products company
Harsco Corporation (NYSE:HSC) announced today the sale of its
non-core accommodation and event services businesses in the UK
known as Rovacabin and Eventlink to the UK-based Wernick Group.
Terms of the all-cash transaction were not disclosed.
The move will enable Harsco Infrastructure to focus its full
resources on its core construction and industrial customers
throughout the world. It marks the last significant step in
completing the Infrastructure group's strategic restructuring,
announced in the fourth quarter of last year, to permanently reduce
the cost base of the business and set the stage for future earnings
growth.
Announcing the sale, Harsco Executive VP and Infrastructure
Group CEO Ivor Harrington said, "Our in-depth strategic review
highlighted that our accommodation and event operations would have
a better long-term future as part of a specialist business
dedicated to these sectors. With this last step of our
restructuring, our focus is squarely on improving the performance
of our core construction, civil works and industrial maintenance
sectors, where we are already starting to make good progress and
seeing continuing signs of market stability."
Harsco Infrastructure is a worldwide business group operating in
more than 40 countries and specializing in providing highly
engineered rental access, forming, shoring and site support
equipment and services to a broad range of construction and
industrial maintenance applications. The group has been
instrumental in the construction of many of the world's great
landmarks and major infrastructure projects, including the Burj
Khalifa Tower and Dubai International Airport in the UAE, the
Terminal 5 expansion at Heathrow Airport in the UK, the Venice
flood control project in Italy, and the Hollywood and Vine
redevelopment in Los Angeles. Harsco Infrastructure is also a
leading provider of access services and equipment to the ongoing
industrial plant maintenance needs of major petrochemical, electric
utility and manufacturing facilities worldwide.
Harsco Corporation serves major industries that are fundamental
to global infrastructure development and economic
growth. Harsco's common stock is a component of the S&P
MidCap 400 Index and the Russell 1000 Index. Additional information
can be found at www.harsco.com.
The Harsco Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=361
CONTACT: Investor Contact
Eugene M. Truett
717.975.5677
etruett@harsco.com
Media Contact
Kenneth D. Julian
717.730.3683
kjulian@harsco.com
Harsco (NYSE:HSC)
Historical Stock Chart
From May 2024 to Jun 2024
Harsco (NYSE:HSC)
Historical Stock Chart
From Jun 2023 to Jun 2024