Harsco purchases Hammco
By: Ray Tuttle – Journal Record
CATOOSA – Harsco Corp., in a move that allows the diversified global industrial company to expand into a new market, reported the purchase of Hammco Corp. on Monday.
“This is an opportunity to expand as we saw that the process market was an underserved market for us,” Benson said.
Hammco, which employs 80 people at a facility on 16 acres in Owasso, will provide products that complement those of AXC, Benson said. AXC makes air-cooled heat exchangers used in natural gas compression and other industries.
The Harsco facility, one of four in the Tulsa area, operates inside a 315,000-square-foot manufacturing facility at the port.
AXC products are used worldwide, Benson said. The equipment protects gas compression equipment and controls the conditioning of natural gas from the wellhead through compression, processing and delivery through a pipeline distribution system. AXC also makes lube oil cooling systems for turbine operators and has adapted its designs for use in power generation and other applications.
The two Tulsa-area companies will operate separately, Benson said. Both companies will support their own product lines with a separate engineering and sales organization. Officials from both companies will report to AXC Vice President and General Manager Eric Clower.
Hammco, founded in 1971 by Charles Helscel, makes air-cooled heat exchangers for the natural gas and petrochemical processing markets.
Harsco Industrial Air-X-Changers has been an air-cooled heat exchanger manufacturer since 1954.
Parent Harsco’s common stock fell 51 cents per share in trading Monday in the New York Stock Exchange, closing at $27.47 per share. The stock, using the ticker HSC, is a component of the S&P MidCap 400 Index and the Russell 1000 Index.