EX-99.1
2
exh99-1_15634.htm
PRESS RELEASE DATED DECEMBER 7, 2007
WWW.EXFILE.COM, INC. -- 888-775-4789 -- HARSCO CORPORATION -- EXHIBIT 99.1 TO FORM 8K
EXHIBIT
99.1
NEWS
RELEASE
Harsco
Corporation
Camp
Hill, PA 17011 USA
www.harsco.com
Media
Contact
Kenneth Julian
717.730.3683
kjulian@harsco.com
Investor
Contact
Eugene
M. Truett
717.975.5677
etruett@harsco.com
FOR
IMMEDIATE RELEASE
HARSCO
CORPORATION COMPLETES PREVIOUSLY ANNOUNCED SALE
OF
GAS TECHNOLOGIES BUSINESS GROUP
HARRISBURG,
PA (December 7, 2007)... Worldwide industrial services company Harsco
Corporation (NYSE: HSC) announced today the closing of the previously announced
sale of its Gas Technologies business group, Harsco GasServ, to Wind
Point Partners, a private equity investment firm with offices in Chicago,
Illinois. As previously announced, terms of the sale include a total
purchase price of $340 million, including $300 million paid in cash at closing
and $40 million payable in the form of an earnout, contingent on the Gas
Technologies group achieving certain performance targets in 2008 or
2009. Proceeds from the sale will provide capital to fund Harsco's
continuing organic growth initiatives and other opportunities in its core
businesses, as well as debt reduction.
Included
in the sale are the four complementary manufacturing and service businesses
that
comprised the Harsco GasServ group:
·
Taylor-Wharton
cryogenic storage units and compressed gas
cylinders
·
American
Welding & Tank propane tanks
·
Sherwood
precision valves
·
Structural
Composites Industries lightweight, filament-reinforced composite
cylinders
Citigroup
Global Markets Inc. has served as exclusive financial advisor to
Harsco.
Harsco
Corporation is one of the world's leading diversified industrial services
companies, serving major customers in the non-residential construction and
infrastructure, steel and metals, energy and railway
industries. 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
.
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#
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EX - 99 . 1 2 exh99 - 1 _ 15634 . htm PRESS RELEASE DATED DECEMBER 7 , 2007 WWW . EXFILE . COM , INC . -- 888 - 775 - 4789 -- HARSCO CORPORATION -- EXHIBIT 99 . 1 TO FORM 8K EXHIBIT 99 . 1 NEWS RELEASE Harsco Corporation Camp Hill , PA 17011 USA www.harsco.com Media Contact Kenneth Julian 717 . 730 . 3683 kjulian@harsco.com Investor Contact Eugene M . Truett 717 . 975 . 5677 etruett@harsco.com FOR IMMEDIATE RELEASE HARSCO CORPORATION COMPLETES PREVIOUSLY ANNOUNCED SALE OF GAS TECHNOLOGIES BUSINESS GROUP HARRISBURG , PA ( December 7 , 2007 ) ... Worldwide industrial services company Harsco Corporation ( NYSE : HSC ) announced today the closing of the previously announced sale of its Gas Technologies business group , Harsco GasServ , to Wind Point Partners , a private equity investment firm with offices in Chicago , Illinois . As previously announced , terms of the sale include a total purchase price of $ 340 million , including $ 300 million paid in cash at closing and $ 40 million payable in the form of an earnout , contingent on the Gas Technologies group achieving certain performance targets in 2008 or 2009 . Proceeds from the sale will provide capital to fund Harsco 's continuing organic growth initiatives and other opportunities in its core businesses , as well as debt reduction . Included in the sale are the four complementary manufacturing and service businesses that comprised the Harsco GasServ group : · Taylor - Wharton cryogenic storage units and compressed gas cylinders · American Welding & Tank propane tanks · Sherwood precision valves · Structural Composites Industries lightweight , filament - reinforced composite cylinders Citigroup Global Markets Inc . has served as exclusive financial advisor to Harsco . Harsco Corporation is one of the world 's leading diversified industrial services companies , serving major customers in the non - residential construction and infrastructure , steel and metals , energy and railway industries . 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 . # # #