HARRISBURG, Pa., May 5, 2004 (PRIMEZONE) -- Worldwide industrial services and products company Harsco Corporation (NYSE:HSC) announced today that its MultiServ mill services division will extend its on-site services at Ispat International steel mills in Mexico and Trinidad under two multi-year contracts having a combined value of approximately $20 million over their duration.
In Mexico, MultiServ has been awarded added responsibilities at the Ispat Mexicana (IMEXSA) steel works to provide, operate and maintain heavy-duty slag pot carriers and slag pots which will be used to transport the mill's ladle material. MultiServ will also take over responsibility for maintaining and incrementally replacing the existing slag pots that serve the mill's electric arc furnaces. The added services began last month and are expected to generate positive Economic Value Added (EVA(R)) benefit from their first year of operation. The IMEXSA mill in Lazaro Cardenas is Mexico's largest producer of steel slabs. MultiServ has been providing a range of ongoing mill services at this site since 1999.
In Trinidad, MultiServ has been awarded a five-year contract extension of its services at Caribbean Ispat, continuing the division's nearly 25-year presence at this location. Caribbean Ispat is the largest steelmaker in the Caribbean. MultiServ provides the mill with a range of on-site services, including scrap yard services, metal recovery, and iron ore handling.
Both contracts add to MultiServ's substantial relationship with Ispat International, a member of the LNM Group, the world's second largest and most global steelmaker with operations in 13 countries. Overall, Harsco's MultiServ division provides services to more than 160 mills in over 30 countries, making it the world's single largest provider of on-site, outsourced mill services to the steel and metals industries.
Harsco Corporation is a $2.1 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. Additional information about Harsco, including its MultiServ division, can be found at http://www.harsco.com/.
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