Harsco Corp. has completed the acquisition of the Northern Hemisphere steel mill services operations of Brambles Industrial Services. Harsco paid about $229 million plus a working capital adjustment for the business, and is proceeding with the appropriate regulatory filings.
The mill services operations operate under long-term contracts at around19 locations in the United Kingdom, France, Holland and the United States. The operations expand Harsco’s on-site, outsourced mill services to the steel and metals industries to approximately 180 sites in 32 countries. The operations provide a complementary range of mill services that includes metal recovery, slag processing, and material handling, and specialty operations that include the briquetting of waste materials for recycling into the steelmaking process.
Derek Hathaway, Harsco chairman, president and CEO, said, ``The addition of these high-quality operations represents an excellent strategic fit which further strengthens our partnerships with the leading producers in the global steel industry and increases our opportunities for long-term service growth.
“Coupled with our Hunnebeck Group acquisition last month, expanding our Access Services segment, we continue to execute on our strategic objectives for strengthening Harsco's global industrial services base and providing increasing value for our stockholders.''