HARRISBURG, Pa., March 5, 2009 (GLOBE NEWSWIRE) -- Worldwide industrial services company Harsco Corporation (NYSE:HSC) announced today that its Harsco Metals group has been awarded a five-year contract renewal valued at up to $50 million over its duration from North America's largest and most advanced low-cost stainless steel production facility.
The award from Kentucky-based North American Stainless (NAS) focuses Harsco's services on the higher value "hot work" requirements for onsite molten slag and scrap handling services, while reassigning lower-end services for general labor, road watering, sweeping and scrap yard stacking to a handful of other companies. Harsco's contract covers a five-year period with provisions for rollover renewal, and represents win-win scenarios for both NAS and Harsco Metals.
Commenting on the award, Harsco President and CEO of the Harsco Metals group Geoffrey D. H. Butler said, "This new contract will facilitate a more positive commercial relationship and create a firm foundation on which to establish further growth opportunities that fit our strategic profile. It outlines a more focused, higher value-adding service to achieve greater customer satisfaction."
North American Stainless is owned by Acerinox, SA, the world's second largest stainless steel producer, which Harsco also supports through contracts in Spain and South Africa.
Harsco Metals is the world's largest provider of on-site services to steel mills and other metals producers, serving an integral, on-site service partner at approximately 170 locations in 35 countries. Services include integrated materials handling, semi-finished and finished product management, and environmental recycling solutions for by-product management.
Harsco Corporation is one of the world's leading diversified industrial services companies, serving key industries that play a fundamental role in worldwide economic growth and recovery. The Company employs approximately 20,000 people in 50 countries of operation and recorded 2008 sales of approximately $4 billion. 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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