HARRISBURG, Pa., Feb. 7, 2008 (PRIME NEWSWIRE) -- Worldwide industrial services company Harsco Corporation (NYSE:HSC) announced today that its global MultiServ mill services division has been awarded significant multi-year contract extensions at two major steel plants in the Netherlands and U.S. that are expected to generate more than $75 million in additional new revenues over the contract terms. The contracts underscore MultiServ's growing responsibilities for developing and executing essential environmental and logistics services in support of steelmaking processes.
The awards include a major 10-year contract extension of MultiServ's ongoing support to the 7 million ton Corus IJmuiden strip products works in the Netherlands, a massive integrated mill that produces a wide range of steels for the automotive, construction, consumer and other industries and is one of MultiServ's largest operating locations worldwide. In parallel with the mill's increased production plans, MultiServ's responsibilities will include further development of its on-site slag handling and processing systems in concert with the Netherlands' stringent environmental regulations, while simultaneously capitalizing on new Harsco investments in technology and equipment that will enable MultiServ to segregate slag by quality and type, thereby maximizing its value to external markets. MultiServ has served the IJmuiden works as its leading on-site mill services partner for nearly 50 years, providing a broad range of services that include on-site BOF slag processing, slag transport and metal recovery.
MultiServ has also received a 10-year contract extension of its on-site services at the Nucor Yamato works in Arkansas as that mill prepares for a significant expansion of its production later this year. MultiServ's role, which began at this location in 1996, will expand to include the on-site transport of ladles to the mill's new strip casting facility which is now under construction. The efficiency and dependability of MultiServ's transport operation is seen as a critical success factor in the new Castrip(tm) facility, only the second to be built by Nucor.
"We are deeply grateful for the continuing confidence evidenced by these two major contract extensions, both of which underscore the substantial long-term partnerships that exist between us and the industry's leading producers and plants," said Harsco President and Mill Services Group CEO Geoffrey D. H. Butler. "These contracts also demonstrate our capacity for providing meaningful competitive advantage to our customers through our continuing capital investments in leading-edge environmental technologies and other core services critical to the steelmaking process."
Harsco's MultiServ mill services division serves the world's leading steel companies as an integral, on-site service partner at more than 170 operating sites in 35 countries. The division's services include integrated materials handling, semi-finished and finished product management, and environmental recycling solutions and by-product management. Similar services are provided to the makers of aluminum, copper and other metals.
Harsco Corporation 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. 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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