HARRISBURG, Pa., Sept. 14, 2005 (PRIMEZONE) -- Worldwide industrial services and products company Harsco Corporation (NYSE:HSC) announced today that its MultiServ mill services division will expand its on-site services at two of Mexico's largest steel works under multi-year contracts expected to generate new revenues of more than $40 million over their duration.
Under a new ten-year agreement at the Mittal Steel Lazaro Cardenas mill on Mexico's Pacific coast, MultiServ will own and operate a multi-vehicle fleet of slag pot carriers that will provide round-the-clock support to the mill's steelmaking plant. The new MultiServ-owned carriers, expected to begin operation in 2006, will replace several older units owned by the mill. Mittal Steel Lazaro Cardenas (formerly IMEXSA) is Mexico's largest steel producer, averaging nearly four million tons of liquid steel production per year. The new contract further expands MultiServ's service responsibilities at this location, where MultiServ has provided a range of on-site metal recovery, slag processing and other services since 1999.
MultiServ will be undertaking a similar slag handling service upgrade at the DeAcero Celaya works, one of Mexico's leading producers of wire products, as that mill doubles its annual production to more than two million tons within the next 12 months. To support the increased volumes, MultiServ will introduce an all-new slag pot carrying service as part of a 10-year main services contract renewal that also extends MultiServ's other on-site responsibilities for metal recovery, slag processing and other services. MultiServ will also be taking over an on-site scrap collection service previously provided by another contractor.
Announcing the contracts, MultiServ division president and CEO Geoffrey D. H. Butler said, "The sizable investments being made by the world's leading steelmakers in plant modernization and capacity expansion continue to drive opportunities for similar expansion of our supporting services. As these contracts demonstrate, our substantial resources and experience enable us to respond in perfect partnership to our customers' strategies for growth."
Harsco's MultiServ division provides major steel producers with a comprehensive range of services that support the entire steelmaking process, including integrated materials handling, semi-finished and finished product management, and by-product recovery and recycling. Similar services are provided to the makers of aluminum, copper and other metals. The division operates at some 160 mills in over 30 countries, making MultiServ the world's single largest provider of on-site, outsourced mill services to the steel and metals industries.
Harsco Corporation is a diversified, worldwide industrial services and products company with annual sales in excess of $2.5 billion. Harsco's four market-leading business segments provide mill services, access services, engineered products and services, and gas containment and control technologies to customers worldwide. The company employs 18,500 people at over 400 locations in more than 40 countries of operation. Additional information about Harsco, including its MultiServ division, can be found at www.harsco.com.
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