HARRISBURG, Pa., March 11, 2008 (PRIME NEWSWIRE) -- Worldwide industrial services company Harsco Corporation (NYSE:HSC) announced today that it has acquired Romania-based Baviera S.R.L., an exclusive distributor of Harsco's Huennebeck division formwork and scaffolding products in Romania that will give Harsco a direct operational presence in one of the fastest-growing construction markets in Eastern Europe. Terms of the acquisition were not disclosed.
"Baviera S.R.L. is an ideal platform for our continuing strategic expansion in Eastern Europe, with its strong customer base, excellent product knowledge, and solid market expertise," said Harsco President and Access Services Group CEO Geoffrey D. H. Butler. "Until now, Baviera has mainly focused on equipment sales. We plan to establish an equipment rental and related engineering support services business in Romania that will enhance our ability to pursue further growth opportunities and increased market share, similar to our successful experience in Poland."
The acquisition marks a continuation of Harsco's stated strategies for expanding geographically in key emerging markets, including the Asia/Pacific region, the Middle East and Africa, Latin America and Eastern Europe. Romania has been experiencing significant growth as one of the most dynamic markets in Eastern Europe, posting consistent annual GDP growth rates above 6%. Its accession to the European Union continues to attract substantial local and foreign investment, leading to a number of new construction projects in the commercial and infrastructure sectors, including highways, retail centers, offices, apartments and warehousing facilities. Harsco's scaffolding and formwork systems are used extensively in these types of construction projects.
Harsco Corporation is one of the world's leading diversified industrial services companies. The Company's Access Services business group ranks as one of the foremost providers of access-related services to the non-residential construction, infrastructure and industrial plant maintenance markets, with operations in over 32 countries worldwide.
Harsco posted 2007 revenues of $3.7 billion and employs approximately 21,500 people throughout the world. Harsco's common stock is a component of the S&P MidCap 400 Index and the Russell 1000 Index. Additional information about Harsco, including its Harsco Access Services business group, can be found at www.harsco.com.