HARRISBURG, Pa., March 8, 2007 (PRIME NEWSWIRE) -- Worldwide industrial services and engineered products company Harsco Corporation (NYSE:HSC) announced today that, with the completion of its Excell Minerals acquisition and to reflect its strengthening strategic presence in the minerals technologies and railway services sectors, the Company is re-naming its third business group as the Minerals & Rail Technologies, Services and Products Group ("all other" category for segment reporting purposes). The Group will include Excell Minerals Technologies, which Harsco acquired on February 6, 2007, and the five divisions that previously comprised Harsco's Engineered Products and Services.
The Group re-naming brings to the forefront the broader global objectives that Harsco has for Excell as well as its railway track services business, and also recognizes the supporting contributions made by the Company's several market-leading niche product businesses. In addition to Excell Minerals Technologies, the Group includes the Harsco Track Technologies railway track maintenance services and equipment division; the Reed Minerals Technologies industrial abrasives and roofing granules division; the Air-X-Changers heat exchangers division; the IKG Industries industrial grating products division; and the Patterson-Kelley boilers, water heaters and blender products division.
"Excell brings to Harsco a new and exciting organic growth platform in minerals and recycling technologies and services with significant opportunities for geographic expansion," said Harsco President, CFO and Treasurer Salvatore Fazzolari. "Their processes for extracting and recycling high-value metals are an ideal fit to the growing environmental and economic demands of steel and metals producers worldwide. They are also at the cutting edge of the commercial agriculture and turfgrass industries with an emerging line of proprietary, mineral-based fertilizers. Excell also produces a mineral-based material that holds considerable promise in the cement industry as an ingredient for high-performance concrete. All of these represent substantial growth markets with global application."
The Minerals & Rail Technologies, Services and Products Group represents the third leg of Harsco's global industrial services portfolio, alongside the Company's industry-leading Access Services and Mill Services Segments. The Company's Gas Technologies Segment, as recently announced, has been identified for divestiture this year and will be shown as a discontinued operation in the Company's financial statements effective with the first quarter 2007.
Harsco Corporation is one of the world's leading diversified industrial services companies, serving major customers in the steel and metals, non-residential construction, energy and railway industries. The Company posted 2006 revenues of $3.4 billion and employs approximately 21,500 people worldwide. 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.
A graphic of Harsco's continuing operations business structure is available at http://media.primezone.com/cache/625/file/3851.html
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