Harsco's Heckett MultiServ Division Awarded New 10-Year Contract in Australia

Contract for Briquetting Services Valued in Excess of $75 Million; Expands Harsco's Role at Australia's Largest Steelmaker


HARRISBURG, Pa., May 1, 2003 (PRIMEZONE) -- Worldwide industrial services and products company Harsco Corporation (NYSE:HSC) announced today that its Heckett MultiServ division, the world's leading provider of on-site, outsourced services to steel mills and other metals producers, has been awarded a new 10-year contract to briquette and recycle steel production by-products at Australia's largest steelmaker, BHP Steel's Port Kembla works.

The contract is expected to generate revenues in excess of $75 million over its duration, and adds to Heckett MultiServ's long-standing services to the Port Kembla works, where Heckett MultiServ operates through its joint venture company MetServ.

The new contract follows an extensive joint development program undertaken in collaboration with BHP Steel to optimize a state-of-the-art briquetting, dewatering, filtration and drying system that enables the mill's waste oxide materials to be processed and recycled on-site into the making of new steel. The new briquetting system will also contribute to reducing the mill's waste disposal costs, which in Australia include substantial taxes on all by-product disposal. Start-up is expected in mid-2004 and is forecast to generate positive Economic Value Added (EVA(r)) from its first year of operation. The facility will be capable of producing up to 200,000 tons of briquettes per year.

The award builds on Heckett MultiServ's success in developing and operating similar briquetting facilities at mills in Canada, France, the U.K. and Slovakia. The Company sees further opportunities worldwide with both new and additional existing customers who are seeking economical ways to recycle their steelmaking wastes for productive re-use. Briquetting is one of several market-leading technologies being advanced by Heckett MultiServ to address the industry's increasing concerns for environmentally responsive and cost-effective alternatives to on-site landfills and disposal fees, and to enable steelmakers to better control their raw material costs through the on-site recycling of production by-products.

Harsco Corporation is a $2 billion diversified industrial services and products company employing approximately 17,500 people in more than 40 countries of operation. Harsco's market-leading businesses provide mill services, access services, gas and fluid control products, and other infrastructure products and services to customers worldwide. Heckett MultiServ operates at more than 150 mills in over 30 countries, providing a broad range of outsourced services to many of the world's leading steel and metals producers. Additional information about Harsco, including its Heckett MultiServ division, can be found at www.harsco.com.



            

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