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Exhibit 99-4
Contact: Kenneth Julian (Media) Eugene Truett (Analysts)
(717) 730-3683 (717) 975-5677
[email protected] [email protected]
FOR IMMEDIATE RELEASE
HARSCO EXCEEDS 90 PERCENT ACCEPTANCE
IN SGB GROUP ACQUISITION
HARRISBURG, PA (June 30, 2000) . . . Harsco Corporation (NYSE: HSC)
said today that, pursuant to its offer to acquire SGB Group, Plc, the Company
has now received valid acceptances representing more than 90 percent of SGB's
issued shares, and will proceed with its plan to compulsorily acquire the
remaining shares.
SGB is one of Europe's largest suppliers of scaffolding, forming and
related access products and services. For the year ended 31 December 1999, SGB
recorded sales of (pound)283 million (approximately $426 million). Harsco's
offer of 250 pence (approximately $3.77) per SGB share represents a total
consideration, including the assumption of certain SGB indebtedness, of
(pound)222 million (approximately $334 million).
The SGB acquisition is expected to be immediately accretive to Harsco's
earnings. Harsco plans to provide updated earnings guidance in conjunction with
its announcement of 2nd quarter results, which are scheduled to be released on
July 19th. The Company has scheduled a conference call beginning at 2:00 p.m. ET
on July 19th to discuss its results and respond to questions from the investment
community. The conference call will be broadcast live through the Harsco
Corporation web site, at www.harsco.com, and through www.streetfusion.com,
www.vcall.com, and www.streetevents.com. The call will also be available by
telephone by dialing 800-633-8746, or 212-346-0302 from outside the United
States.
Harsco Corporation is a multinational provider of services and products
serving strategic worldwide markets from more than 300 locations in over 30
countries. Additional information about Harsco can be found at www.harsco.com.
The nature of Harsco's and SGB's operations and the many countries in which they
operate subject them to changing economic, competitive, regulatory, and
technological conditions, risks, and uncertainties. In accordance with the "safe
harbor" provisions of the Private Securities Litigation Reform Act of 1995,
Harsco
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provides the following cautionary remarks regarding important factors which,
among others, could cause future results to differ materially from the
forward-looking statements, expectations, and assumptions expressed or implied
herein. These include statements about our management expectations for
accretiveness of the acquisition, outcome of the offer, and management
confidence and strategies for performance and market segment and industry
growth.
These factors include, but are not limited to: (1) changes in the worldwide
business environment in which Harsco and SGB operate, including import,
licensing, and trade restrictions, currency exchange rates, interest rates, and
capital costs; (2) changes in governmental laws and regulations, including
taxes; (3) market and competitive changes, including market demand and
acceptance for new products, services, and technologies; (4) effects of unstable
governments and business conditions in emerging economies; and (5) other risk
factors listed from time to time in the Company's SEC reports. The Company does
not intend to update this information and disclaims any legal liability to the
contrary.
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