MultiServ Adds New Services at Three Steel Mills
Sees Additional Revenues of $17 Million
HARRISBURG, PA (May 16, 2006) . . . Worldwide industrial services and products company Harsco Corporation (NYSE: HSC) announced today that its MultiServ mill services division has won new service responsibilities at three steel mills in France, Italy and Brazil that are expected to generate approximately $17 million in additional new revenues over the contract durations. The new responsibilities come as additions to long-term contract renewals at two locations and an all-new contract at one location.
At the AscomEtal Fos-sur-Mer plant in
France, MultiServ will add scrap yard management and the operation
of AscomEtal's scrap handling cranes to its service
responsibilities under a new seven-year contract
extension. The added responsibilities,
previously performed by a competitor, further expand MultiServ's
on-site relationship which began in 1974. The
Fos-sur-Mer works specializes in large-diameter
products and wire.
In Brazil, MultiServ will expand its ongoing services at
the Acesita stainless works, one of Latin America's
leading producers of special stainless and silicon
steels. MultiServ will introduce a
slag pot hauling service to handle the mill's ferro-chromium
slag. Acesita currently produces approximately
850,000 tons of stainless and other specialty steels per
year. MultiServ has operated at the Acesita site
since 1981.
In Italy, MultiServ will undertake its first
contract at the Ferriera Valsider steel works, a relatively new hot
rolling mill in the heart of Italy's steelmaking region that has
been operating since 2001. Ferriera Valsider
produces heavy plate and coils. MultiServ's
contract calls for a range of slab logistics services, including
slab handling, oxycutting and manual slab
scarfing. The operations capitalize on
MultiServ's industry-leading experience in slab processing and
surface scarfing, a quality-enhancing process that removes surface
imperfections on slabs prior to rolling.
Announcing the contracts, MultiServ President and CEO Geoffrey
D. H. Butler said, "These awards underscore our two principal
growth strategies within the MultiServ division, which are to
expand our services to existing customers and to take on services
with new customers. We believe there are
significant additional opportunities for continued growth in both
directions, as these latest awards help to
demonstrate." MultiServ is the world's largest
provider of on-site, outsourced mill services to the steel and
metals industry and operates under renewable long-term contracts at
more than 160 locations worldwide.
Harsco's diversified, worldwide industrial services and
products serve the global steel, construction, railway and energy
industries. The Company employs approximately
21,000 people in 45 countries of operation and recorded 2005 sales
of $2.8 billion. Additional information about
Harsco, including its MultiServ mill services division, can be
found at http://www.harsco.com/.
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