Harsco Corporation has acquired ALTEK Group, a manufacturer and installer of aluminium dross and scrap processing systems, for a purchase price of £45 million (approximately $60 million), plus an additional future consideration, to be paid subject to the future financial performance.
Alan Peel, ALTEK Managing Director, said: “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 aluminium industry.”
AluSalt offers customers a breakthrough technology that converts salt slag waste into valuable products, addressing one of the largest environmental concerns within the aluminium market.
ALTEK Group manufactures products that enable aluminium producers and recyclers to manage and efficiently extract value from critical waste streams, reduce waste generation, and improve operating productivity.
Nick Grasberger, Harsco President and CEO, commented: “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 optimistic about ALTEK’s growth potential within our Metals & Minerals business. ALTEK is M&M’s first acquisition in more than a decade, representing another step to accelerate our growth.”
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