Harsco Acquires Inductelec & The Altek Group
Harsco Corporation have completed the acquisition of Inductelec (part of the ALTEK Group), a UK - based manufacturer of market leading products that enable aluminum producers and recyclers to manage and efficiently extract value from critical waste streams, reduce waste generation, and improve operating productivity. Harsco acquired Inductelec & its parent ALTEK, on a debt and cash free basis, for a purchase price of £45 million (approximately $60 million), plus an additional future contingent consideration subject to the future financial performance of Inductelec & ALTEK.
The cost-efficient recovery of metal and other valuable materials and environmentally safe solutions for residual waste materials are increasingly important to the aluminum industry. Inductelec and ALTEK’s products and technologies address these and other operating challenges. Its products include aluminum dross and scrap processing systems and its latest innovation, AluSalt , offers customers a breakthrough technology that converts salt slag waste into valuable products, addressing one of the largest environmental concerns within the aluminum market.