Harsco Makes a Belgian Buy

It acquires Technic Gum.
Author:
Publish date:

Industrial services and engineered products provider

Harsco

(HSC) - Get Report

said Tuesday that it acquired the conveyor services and trading arm of

Technic Gum

, a privately-held Belgain firm that provides conveyor belt maintenance services for the steel and cement-producing industries.

Terms of the cash acquisition were not disclosed. Technic Gum's manufacturing arm, which produces consumables such as screen grids and other parts for conveyor maintenance, is not included in the transaction, the Camp Hill, Pa.-based company said.

The acquisition is expected to be accretive to Harsco's 2007 earnings and adds to the company's growing capabilities for providing conveyor belt management and maintenance services to steel mills and other industrial clients, it added.

Technic Gum recorded service and trading-related revenues of about $8 million in 2005 and employs around 50 people.

This story was created through a joint venture between TheStreet.com and IRIS.