ALTEK is pleased to announce that the Harsco Corporation (NYSE: HSC) has completed the acquisition of ALTEK Group, consisting of their UK operation ALTEK Europe Ltd., their US operation ALTEK LLC and Inductelec Ltd, their subsidiary Induction technology company.
The acquisition of ALTEK by Harsco is driven by a strategic move to grow their environmental solutions business and expand their capabilities in industrial waste management services.
The cost-efficient recovery of metal and other value, and environmentally-safe solutions for
residual waste materials are increasingly important to the aluminum industry. ALTEK’s products, technologies and innovation address these and other operating challenges. Their products include aluminium dross and scrap processing systems, innovative electromagnetic solutions for improving cast house efficiency, and its latest innovation (AluSalt™) offers customers a breakthrough technology to address one of the largest environmental concerns within the aluminum market, the treatment and/or disposal of salt slag.
Key attributes of the ALTEK acquisition include, market leadership, innovative technologies, strengthening of Harsco’s environmental brand, significant market opportunity, growth-driven management team and to leverage global footprint and relationships, with complementary solutions.
Quote from Nick Grasberger, Harsco President and CEO
“ALTEK fits perfectly with our strategy of developing a premier environmental solutions platform, by acquiring technologies that expand our capabilities in managing industrial waste. We are extremely optimistic about ALTEK’s growth potential within Harsco Metals & Minerals and we welcome their team to Harsco. This acquisition also reflects our success in building a strong foundation in M&M and our confidence in the leadership team to execute against its operating and strategic growth priorities. ALTEK is M&M’s first acquisition in over a decade and it also represents an initial step to accelerate our growth.”
Quote from Alan Peel, Altek Managing Director
“This acquisition is a very positive step forward for ALTEK, providing the company with a strong financial owner who is committed to supporting ALTEK’s growth and innovation strategy. 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 commercialise 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 aluminium industry.”