HARRISBURG, Pa., July 30, 2007 (PRIME NEWSWIRE) -- Worldwide industrial services company Harsco Corporation (NYSE:HSC) announced today that its industry-leading MultiServ mill services division has been awarded new multi-year contracts in France and the UK that will expand its services to two current customers and generate additional new revenues estimated at more than $15 million over their duration.
Under a new seven-year contract, MultiServ will implement a new mechanized FerroCut(r) scrap oxycutting service at the ASCOMETAL Fos-sur-Mer steel mill in France. The new FerroCut(r) installation replaces a previous manual operation to provide greater productivity as well as built-in environmental systems for on-site fume collection and control. MultiServ's proprietary FerroCut(r) technology was developed for the needs of higher volume customers and is capable of cutting the full range of scrap materials up to nearly 5-1/2 feet thick. The new service draws upon MultiServ's extensive experience with similar FerroCut(r) installations worldwide and adds to a more than 30-year relationship for MultiServ at the Fos-sur-Mer location. The mill, a unit of the Severstal/Lucchini Group, specializes in the production of bearing-quality steel, mainly for the automotive, oil and gas drilling, and engineering markets.
In the UK, MultiServ will expand its steel product transportation services for ASD metal services, the largest independent metals stockholder and distributor in the UK. The new four-year contract adds to a decade-long relationship with ASD, during which MultiServ's in-country logistics arm has delivered some 55,000 tons of steel coil and plate per year to various locations throughout the United Kingdom. The new contract expands MultiServ's service role to now handle two separate distribution sites as a single source provider, thus displacing an existing contractor. ASD metal services is part of the Klockner & Co. group, one of the largest independent steel and metal distributors in Europe and North America.
Harsco's MultiServ mill services division serves the world's leading steel and metals companies as an integral, on-site service partner at more than 160 mills in over 30 countries. The division's core services include integrated materials handling, semi-finished and finished product management, and by-product recovery and recycling.
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Harsco Corporation is one of the world's leading diversified industrial services companies, serving major customers in the non-residential construction, steel and metals, energy and railway industries. The Company posted 2006 revenues of $3.4 billion and employs approximately 21,500 people worldwide. Harsco's common stock is a component of the S&P MidCap 400 Index and the Russell 1000 Index. Additional information about Harsco, including its MultiServ mill services division, can be found at www.harsco.com.
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