HARRISBURG, Pa., May 22, 2007 (PRIME NEWSWIRE) -- Worldwide industrial services company Harsco Corporation (NYSE:HSC) announced today that its industry-leading MultiServ mill services division has been awarded three new contracts, all related to the growing commercial and environmental demands for environmentally-responsible on-site processing and recycling of steelmaking slag by-products. The three new contracts, two in the United States and one in New Zealand, are expected to generate additional new service revenues in excess of $35 million over their duration.
The announcement comes one day after Harsco's signing of a major new sales contract from China for rail grinders that is expected to generate new revenues of more than $350 million, and continues a string of recent Harsco contract announcements that also includes new awards in France, Poland, Brazil, Dubai and the United States.
Under a new multi-year agreement with Anderson Geneva Development of Vineyard, Utah, MultiServ will process a six million ton stockpile of iron and steelmaking slag at the site of the former Geneva Steel Works. The products will be prepared for commercial re-use by the aggregate and construction industries, where they are slated to be used in road building and asphalt paving, drainage control and other applications, and as a raw feed for the production of Portland cement by cement makers throughout the Western United States. Located some 40 miles south of Salt Lake City, the former Geneva Steel site comprises approximately 1,750 acres of prime land that is poised for redevelopment by Anderson Geneva. MultiServ's processing of the remaining by-product stockpiles is seen as a key step in preparing the site for renewal.
In Michigan, MultiServ will further expand its role at United States Steel Corporation's Great Lakes works by assuming the responsibilities for in-plant material transport of certain steelmaking by-products. These materials are then blended and recycled back into United States Steel Corporation's production in the form of feeder briquettes, a process which is also provided by MultiServ through its National Recovery Systems operations. MultiServ's newly-added responsibilities for the transport and flow of materials should further enhance production throughput at the briquetting plant.
In New Zealand, MultiServ will process a long-standing stockpile of steel slag material on behalf of New Zealand Steel (NZS), which hopes to utilize the recovered scrap content for sale into the external market. NZS is New Zealand's largest steel producer, with annual production of about 600,000 tons of slab for both the domestic and international markets. The new work continues a more than 25-year relationship as New Zealand Steel's primary on-site mill services contractor.
Harsco is one of the world's leading diversified industrial services companies, serving major customers in the non-residential construction, steel and metals, energy, and railway industries. The Company recorded 2006 sales of $3.4 billion and employs approximately 21,500 people in 46 countries of operation. Harsco's common stock is a component of the S&P MidCap 400 Index and the Russell 1000 Index. Additional information about Harsco, including its MultiServ mill services division, can be found at www.harsco.com.
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