HARRISBURG, Pa., Aug. 15, 2007 (PRIME NEWSWIRE) -- Worldwide industrial services company Harsco Corporation (NYSE:HSC) announced today that its industry-leading MultiServ division will expand its services to two of the leading steel producers in Latin America under multi-year contracts that are expected to generate more than $15 million in additional new revenues over their duration.
The contracts further extend MultiServ's on-site mill services at three Mexico-based operations of Ternium, one of the leading steel companies in Latin America, and at Siderperu, Peru's largest steel producer.
At Ternium Hylsa's flat rolled steel manufacturing plant in Monterrey, Mexico, MultiServ has been awarded a new five-year contract that expands the division's responsibilities to include the handling of the mill's iron ore and other raw materials. The latest contract adds to a 40-year MultiServ presence at this site. MultiServ has also been awarded added responsibilities for scrap basket handling at Ternium's Apodaca long products plant, and a multi-year renewal of its coil handling and transport services at Ternium's long products plant in Puebla. A member of the worldwide Techint Group, Ternium consolidates the operations of the steel companies Hylsa in Mexico, Siderar in Argentina and Sidor in Venezuela. Ternium also recently announced its acquisition of Grupo Imsa, a steel manufacturer with operations in Mexico, the United States and Guatemala.
MultiServ's contract in Peru at the Siderperu steelmaking plant expands the division's responsibilities to include work previously performed by the mill in such areas as on-site slag transport, slag processing and metal recovery. The Siderperu mill was acquired last year by the Gerdau Group, and the new contract follows Gerdau's strong outsourcing relationships with MultiServ at several other locations. Gerdau is the largest producer of long steel in the Americas, with mills in Argentina, Brazil, Canada, Chile, Columbia, Mexico, Peru, Uruguay and the United States. Newly revitalized under Gerdau's ownership, the Siderperu mill is on track to nearly double its production output by the end of this decade.
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 custom-tailors its services to each location, drawing from a comprehensive, industry-leading range of professional outsourced services that support virtually every stage of the steel and metals production process, from incoming raw material processing to the environmental recycling of production by-products.
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 division, can be found at www.harsco.com.
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