UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) February 6, 2007
Harsco Corporation
(Exact name of registrant as specified in its charter)
DE |
1-3970 |
23-1483991 |
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(State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
350 Poplar Church Road, Camp Hill PA, 17011 |
17011 |
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(Address of principal executive offices) | (Zip Code) |
Registrant's telephone number, including area code: 717-763-7064
________________________________________________________________________________
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: | ||
[ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
[ ] | Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12) | |
[ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
[ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 2.01 Completion of Acquisition or Disposition of Assets
On February 6, 2007, Harsco Corporation (the Company) completed its previously announced transaction to acquire Excell Materials, Inc. The Company paid approximately $200 million for the business, with adjustments for working capital, debt and certain other items.
A copy of the press release announcing the completion of this transaction is attached hereto and incorporated by reference herein as Exhibit 99.1. A copy of the purchase agreement will be filed as Exhibit 2 to the Company's Form 10-K for the year ended December 31, 2006.
Item 9.01. Financial Statements and Exhibits.
Exhibit 99.1. Press release dated February 6, 2007
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Harsco Corporation
(Registrant) |
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February 6, 2007
(Date) |
/s/ MARK E. KIMMEL
Mark E. Kimmel General Counsel and Corporate Secretary |
Exhibit Index | ||
99.1 | Press release dated February 6, 2007 |
EXHIBIT 99.1
HARRISBURG, Pa., Feb. 6, 2007 (PRIME NEWSWIRE) -- Worldwide industrial services and products company Harsco Corporation (NYSE:HSC) announced today that it has completed its previously announced acquisition of Excell Materials, Inc., a multinational company that extracts high-value metals content on behalf of leading steelmakers and also specializes in the development of minerals technologies for commercial applications. The acquisition was completed on terms consistent with those previously announced and is expected to be immediately accretive to Harsco's earnings.
Excell posted 2006 sales in excess of $100 million and maintains operations at nine locations in the United States, Canada, Brazil, and South Africa. The company has also established a presence in Europe for future expansion. Excell serves a number of leading U.S. and international steel producers by extracting high-value metallic content from steel slag for production re-use. Excell's processes address the steel industry's increasing worldwide demand for environmentally responsible handling and recycling of its residual materials.
The addition of Excell also positions Harsco in the growing minerals technologies business sector, where Excell serves the commercial turf/agriculture and cement markets with a range of mineral-based products that include Reclime(r), an agricultural liming material; Excellerator, a specialty fertilizer rich in soluble silicon that is demonstrating positive results in improving turfgrass performance on golf courses and high-wear sports surfaces; several mineral-based agricultural fertilizers for use with a range of commercial crops including corn, rice, wheat and sugarcane; and a cement product, Excell Select, an engineered supplementary cementitious material developed to meet cement users' needs for high-performance concrete.
Excell joins Harsco's Mill Services Segment and will also share technologies and resources with the Company's Reed Minerals division, a market leader in the production of mineral abrasives and roofing granules from slag materials. "We welcome Excell to the Harsco family and look forward to its exciting worldwide market opportunities as another strong platform to Harsco's continuing growth," said Harsco President, CFO and Treasurer, Salvatore Fazzolari.
Harsco is a leading worldwide industrial services company serving major customers around the globe. The Company'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.
The Harsco Corporation logo is available at http://www.primezone.com/newsroom/prs/?pkgid=361
The Excell Materials logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3278
CONTACT: Harsco Corporation Media Contact Kenneth D. Julian (717) 730-3683 kjulian@harsco.com Investor Contact Eugene M. Truett (717) 975-5677 etruett@harsco.com www.harsco.com