HARRISBURG, Pa., Sept. 24, 2003 (PRIMEZONE) -- Worldwide industrial services and products company Harsco Corporation (NYSE:HSC) announced today that its Heckett MultiServ division has entered into a follow-on 10-year agreement in Norway to process aluminum by-products on behalf of Hydro Aluminium, the world's third largest producer of aluminum. The agreement extends and expands a 13-year relationship between the two parties.
Heckett MultiServ will enhance its existing aluminum dross processing facility at Karmoy, Norway, which has the capacity to treat up to 60,000 tons of secondary materials. The products will be recycled back into the production of new aluminum and other industrial uses by Hydro Aluminium and its clients. Heckett MultiServ does not take ownership of the materials.
Heckett MultiServ Division President Geoffrey D. H. Butler said the agreement reflects Harsco's corporate-wide Six Sigma initiatives for improved operating efficiencies and lower costs and is expected to sustain current revenues at a level totaling in excess of $75 million over its duration under more favorable commercial terms. The agreement, underway this month, is also expected to generate increased Economic Value Added (EVA(r)) benefit on Harsco's behalf.
Harsco Corporation is a 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. Additional information about Harsco, including its Heckett MultiServ division, can be found at www.harsco.com.
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