CAMP HILL, Pa., April 11, 2012 (GLOBE NEWSWIRE) -- Global industrial services and engineered products company Harsco Corporation (NYSE:HSC) announced today new large-scale industrial and commercial sector orders for its Harsco Infrastructure business group in Europe totaling more than $35 million in anticipated revenues.
The awards are led by a three-year contract extension and expansion of Harsco's onsite insulation maintenance services to the BASF Group chemical complex in Antwerp, Belgium, a facility that ranks as the largest processing industry site in Belgium and also the second largest BASF production plant in the world. Harsco's extension represents a 50 percent increase in scope over its previous contract and follows a competitive bidding process in which Harsco was selected not only to continue its existing role but also take over additional contract scope previously performed by others. Harsco will support BASF's operations with round-the-clock thermal and acoustic insulation installation, modification and repair services throughout the complex.
Announcing the award, Harsco Infrastructure Group CEO Ivor J. Harrington said, "Onsite reliability has been a key requirement of BASF, as has maintaining safe working practices and a consistent, high level of quality. This renewed framework agreement demonstrates that Harsco continues to meet all of these requirements, and at a level that has earned us an expanded role from of one of the world's largest blue-chip chemical companies."
Harsco has also won new orders to support three large-scale requirements in the shipyard maintenance and commercial construction sectors. Under the first two, Harsco will provide scaffolding and access equipment services through the main contractor Keppel Verolme for maintenance of two major deepwater construction vessels, including the Heerema Marine Contractors' SSCV Thialf, the largest crane vessel in the world, as well as the Scarabeo 6, a semi-submersible drilling rig owned and operated by Saipem. Harsco also won the order for delivering access services for another large crane vessel, DSV Balder, this time working directly for Heerema Marine Contractors. The orders continue Harsco's growing role in the specialized maritime maintenance sector and add to Harsco's previously-announced scaffolding support of the Saipem 7000, the world's second largest deepwater crane vessel.
In addition to its industrial plant and shipyard orders, Harsco has also received a new order to begin work on the second phase of a major construction project in France, the new Les Terrasses du Port retail complex in the city of Marseille. Harsco is providing a full range of aluminum shoring, modular slab formwork, powered access and mechanical access to the project, supporting overall construction lead VINCI. Due for completion in the spring of 2014, the Terrasses du Port will be a 580,000 square foot (54,000 m2) complex filled with internationally-recognized retail outlets, 25 restaurants, a viewing terrace and other leisure facilities. Harsco's formwork and shoring equipment is being used to create more than 860,000 ft2 (80,000 m2) of concrete superstructure slabs, some of which will be almost 20 feet (6 m) thick.
"With our restructuring nearing completion, the resulting improvements we've made in market position and increased sales efforts are reflected in these awards. They clearly demonstrate Harsco's growing ability to win multi-service roles with large-scale global construction partners and industrial plant operators," said Mr. Harrington.
Harsco Corporation is a diversified industrial company providing essential services and products to major industries that help build the world, including steel and metals, construction, railways and energy. 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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