HARRISBURG, Pa., Dec. 14, 2004 (PRIMEZONE) -- Worldwide industrial services and products company Harsco Corporation (NYSE:HSC) announced today that its MultiServ mill services division will significantly expand its services to Guatemala's leading steel producer under a new ten-year contract that is expected to more than double MultiServ's revenues at this location to nearly $50 million over the contract duration.
MultiServ has been supporting the Siderurgica de Guatemala S.A. (Sidegua) mill since 2001 with a range of on-site melt shop, slag processing and scrap yard services. The mill, owned by the privately-held Aceros de Guatemala group, produces wire rod, reinforcing bars, and light angles for the construction industry.
This latest contract adds a new scrap shredding service that will supplement the mill's investments in facility modernization to allow increased production levels of as much as 50 percent. MultiServ will be responsible for receiving and sorting the mill's incoming scrap, installing and operating the on-site scrap shredder plant, and loading, weighing and transporting shredded scrap to the mill's melt shop. The service is patterned after MultiServ's ongoing success with a similar operation in Brazil. Work is scheduled to begin in early 2006, and is expected to generate positive Economic Value Added (EVA(R)) for Harsco from its first year of operation.
Harsco's MultiServ division provides the world's leading steel companies 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 it 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 billion. Harsco's market-leading businesses provide mill services, access services, gas technologies, and engineered products and services to major industries around the globe. The Company employs 18,000 people at over 400 locations in more than 40 countries of operation. Additional information about Harsco, including its MultiServ division, can be found at http://www.harsco.com.
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