02.05.2006

Harsco/SGB to make another acquisition

Cape PLC has announced that it is in discussions with the SGB group, itself a division of US based Harsco, for the disposal of Cleton, Cape's industrial services businesses in the Netherlands, Germany and Belgium.

The proposed transaction, is expected to be concluded by the end of May

2006 and is subject to due diligence, regulatory clearance and “the detailed negotiation of satisfactory contract terms”.

Cleton has revenues of around €50 million and has operations in the Netherlands, Belgium and Germany. Its area offices and workshops are located in Hoogerheide (South), Vlaardingen (West), Heteren (East) and Klazienaveen (North) in the Netherlands, in Antwerp Belgium and Meppen in Germany.

Last year Harsco acquired the scaffold rental business of Hünnebeck, that purchase along with this deal plus SGBs existing organization is creating one of the continents leading scaffolders.