HARRISBURG, Pa., June 2, 2011 (GLOBE NEWSWIRE) -- 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 .
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