Melrose completes disposal of waste management group Harris
WARWICKSHIRE based manufacturing turnaround specialist Melrose Industries has completed the disposal of another of its businesses.
The Alcester group has sold the US-based Harris Waste Management Group to Avis Industrial Corporation.
Melrose said Harris was expected to have achieved unaudited turnover of approximately £30m and an operating profit of approximately £900,000 in 2013.
Harris is a market leader in the scrap and waste recycling industries, operating from two plants in Georgia. The company designs, manufactures and services a full range of equipment solutions and serves the scrap metal and fibre recycling industries.
Harris has been a leader in the recycling industry for over 100 years and manufactures both ferrous and nonferrous processing equipment. Its products include a diverse line of balers, shears and shredders.
Leland E. Boren, chairman, president and CEO of Avis Industrial, said: “The Harris name has a strong legacy in the recycling industry, and we want to build on that tradition by manufacturing quality products, offering exceptional customer service, while at the same time focusing on innovation and new product development.”
Boren said he anticipated no immediate changes in the organisation at Harris, including its distributor network. The acquisition is expected to enhance its American Baler operation, which has been a subsidiary of Avis since 1979.
“This is an ideal time to find synergies and capitalise on the combined strength of both companies in the baler industry,” he said.
Kenneth Galason, president of Harris, added: “We are excited to be joining the Avis Industrial Corporation group of companies. The leadership at Avis has vast experience in manufacturing which we believe will only add to the success of Harris going forward.”
