A global engineered products and services company serving the worldwide steel, railway and energy sectors announced recently announced the acquisition of a machining manufacturer based in Chesterfield, England.
Harsco Corporation, headquartered in Camp Hill, Pennsylvania, acquired ALTEK for a purchase price of approximately $60 million (£45 million).
The cost-efficient recovery of metal and other valuable materials – and environmentally-safe solutions for residual waste materials – are increasingly important to the aluminum industry. ALTEK’s products and technologies address these and other operating challenges, according to Harsco’s official announcement of the acquisition.
“We are optimistic about ALTEK’s growth potential within our Metals & Minerals business. This acquisition reflects our success in building a strong foundation in Metals & Minerals and our confidence in the leadership team to execute against its operating and strategic growth priorities. ALTEK is M&M’s first acquisition in more than a decade, representing another step to accelerate our growth,” said Nick Grasberger, Harsco president and CEO.
“This acquisition is a very positive step forward for ALTEK, providing the company with a strong financial owner and industry leader which is committed to supporting ALTEK’s growth and innovation strategy,” said Alan Peel, managing director of ALTEK. “With Harsco’s extensive international presence and company infrastructure, Harsco will greatly enhance the ability of ALTEK to provide service and support to its international customer base. This will be particularly helpful as we commercialize our latest technology AluSalt around the world. With very similar and aligned values between the two companies, all of this will provide for a very exciting future for ALTEK with Harsco and the customers we serve within the aluminum industry.”
