21.09.2005

Harsco Buys Hünnebeck

Harsco Corp, the US based parent of SGB and Patent Scaffold, reached agreement yesterday to buy German scaffolding and formwork provider Hünnebeck Group GmbH in a deal worth €140 million. The deal is subject to the normal regulatory approvals being granted.

Harsco chairman, president and CEO Derek Hathaway said: "This complimentary union will further accelerate our strategic growth in our Access Services sector, bringing it close to US$1 billion in annual revenues and substantially expanding its global footprint."

Hünnebeck is one of Europe's largest providers of formwork and scaffolding, with over 60 locations across 12 countries.
Its annual revenues of €143 million, 73% of which is generated in Western Europe, with the balance coming from sales in Eastern Europe and the Middle East.