HARRISBURG, Pa., Nov. 13, 2007 (PRIME NEWSWIRE) -- Worldwide industrial services company Harsco Corporation (NYSE:HSC) announced today that its SGB access services division has been awarded two contracts totaling more than $1.6 million to support construction of a new GlaxoSmithKline (GSK) Vaccine Plant in Singapore.
The new contracts underscore the accelerating growth of SGB's branch operations in Singapore as one of the country's leading access services and rental equipment suppliers and a major player in some of Singapore's most prestigious construction projects. The new plant is GSK's biggest vaccine investment in Asia and will be the first such facility in Singapore, which is rapidly becoming a major world center for biotechnology and pharmaceutical production.
Under the larger of the two contracts, awarded by Glaxo Wellcome Manufacturing Pte Ltd., SGB will support Foster Wheeler Eastern Private Limited, the appointed managing agent for this project, over a 17-month construction cycle during which SGB will supply rental scaffolding and related scaffold engineering expertise together with professional erection and dismantling (E&D) services. The second contract, from Singapore-based Building Associates (S) Pte Ltd, also covers rental scaffolding and E&D services at the site for an expected six month period.
Growth in the Asia-Pacific sector is one of the cornerstones of Harsco's strategic objectives for increasing stockholder value through an expanded presence in the world's developing economies, to include also Eastern Europe, Latin America, the Middle East and Africa. Harsco's international footprint, already more than 45 countries worldwide, accounted for more than 60 percent of the Company's revenues in 2006 and nearly 70 percent in the most recent quarter.
The SGB division is part of Harsco's global Access Services business group, the world's most comprehensive global provider of rental scaffolding, formwork and related engineering services to the non-residential construction, infrastructure and industrial plant maintenance markets. In addition to SGB, the Harsco Access Services group also includes the Company's Hunnebeck and Patent divisions, providing a global network of close-to-market equipment rentals and services from over 200 locations in more than 30 countries around the world.
Harsco Corporation is one of the world's leading diversified industrial services companies. The Company posted 2006 revenues of $3.4 billion and employs approximately 21,500 people worldwide. Harsco's common stock is a component of the S&P MidCap 400 Index and the Russell 1000 Index. Additional information can be found at www.harsco.com.
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