Harsco acquires 100 percent ownership in China

Derek Hathaway, Harsco's chairman and CEO

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Harsco recently acquired the 49 percent minority interest of its joint venture partner in China.

The company will now complete a 100 percent ownership of Taylor-Wharton cryogenic gas tank production through a cash transaction. No financial details were disclosed.

Operations are scheduled to move into a new, increased capacity plant that is expected to become operational early 2007.

Derek Hathaway, Harsco's chairman and CEO said: "As a wholly owned subsidiary, Taylor-Wharton China will be fully under Harsco direction, a step that will enable us to receive the full benefit from our growth opportunities in this sector while eliminating the distractions not uncommon to multi partner arrangements."

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