HARRISBURG, Pa., Feb. 14, 2005 (PRIMEZONE) -- Worldwide industrial services and products company Harsco Corporation (NYSE:HSC) announced today that its MultiServ mill services division will extend its services at TXI Chaparral Steel's Electric Arc Furnace (EAF) mill in Midlothian, Texas under a ten-year contract renewal that is expected to generate improved Economic Value Added (EVA(r)) performance for Harsco over its duration. Terms of the contract, now underway, were not disclosed.
The contract includes operational improvements to MultiServ's metal recovery responsibilities that are designed to increase the value of recovered scrap metal used by the mill in the production of new steel, and also includes expanded responsibilities for on-site environmental services. TXI Chaparral Steel is one of the largest suppliers of structural steel products in North America. Announcing the contract, MultiServ North America president Gene A. Iannazzo said, "We look forward to this extended win-win opportunity to deliver enhanced value to our customer in parallel with increased value for Harsco."
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 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 $2.5 billion diversified industrial services and engineered products company whose market-leading businesses provide mill services, access services, gas containment and control technologies, and engineered products and services to customers worldwide. The company employs 18,000 people 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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