HARRISBURG, Pa., July 3, 2008 (PRIME NEWSWIRE) -- Worldwide industrial services company Harsco Corporation (NYSE:HSC) announced today that it has secured a new contract with global steel producer Tata Steel to provide rental scaffolding throughout a two-year plant maintenance cycle at Tata's state-of-the-art Jamshedpur steel works in northeastern India. The contract, valued initially at more than $2 million in new revenues, includes provisions for a follow-on three-year extension, and comes as a result of Harsco's ongoing relationship with Tata Steel throughout Europe as a leading on-site mill services provider. Harsco is the only company worldwide to offer on-site mill services and plant maintenance-related access services under a single brand.
Harsco will support the Tata mill with its Cuplok scaffolding system backed by a full-service erection and dismantling crew that is expected to more than triple in size by the end of the first year as the maintenance program expands to other areas of the steelmaking plant. The massive Jamshedpur works is completing a major facility upgrade that increases production capacity from 5 million tons to 7 million tons of steel products annually. Key to Harsco's winning solution is its enterprise-wide safety culture, a core company value that complements Tata's objectives for improving its on-site safety record at the Jamshedpur works.
The Jamshedpur award comes on the heels of another large scaffolding job in India in which Harsco has provided rental scaffolding systems to an offshore drilling rig in eastern India for Italian oil and gas contractor Saipem, a major international customer already supported by Harsco in Europe.
Commenting on the two contracts, Harsco Chairman and CEO Salvatore D. Fazzolari said, "We are particularly gratified to see our successful customer relationships from other parts of the world facilitate Harsco's timely re-entrance into India's rapidly expanding infrastructure and construction markets. These are significant early steps in our anticipated build-up to a strong and growing Harsco presence in India in the coming years, as we see similar opportunities for our mill services and rail services businesses."
Harsco Corporation is one of the world's leading diversified industrial services companies, serving major customers in key industries that play a fundamental role in worldwide economic growth and development, including infrastructure and construction, metals and minerals, and railways. The company employs more than 22,000 people and operates in 50 countries worldwide. Additional information can be found at www.harsco.com.
The Harsco Corporation logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=361