Harsco Expands Environmental Services to China's Largest Steel Producer Under New $6 Million Contract
March 16 2010 - 9:23AM
Worldwide industrial services and engineered products company
Harsco Corporation (NYSE:HSC) announced today that its Harsco
Metals business group has been awarded a new environmental services
contract for by-product recycling that will expand the Company's
relationship with China's largest steelmaker, BaoSteel.
The new contract, valued at approximately $6 million, is
Harsco's fourth within the Chinese steelmaking sector and continues
Harsco's growing industrial services presence in the Asia-Pacific
region. "This latest award reflects our strong focus on developing
and implementing knowledge-based services and solutions that
improve our customers' performance and further extend Harsco's
global growth," said Galdino Claro, CEO of the Harsco Metals and
Harsco Minerals business groups.
Harsco Metals will deploy a new zero waste by-product recycling
service at BaoSteel's Ningbo integrated carbon steelmaking facility
in Zhejiang Province, where Harsco already provides scrap
management and coolant scrap production services under the terms of
an ongoing 12-year contract. Under its expanded relationship
with BaoSteel, Harsco will install and operate a specially
constructed facility that will recycle by-products from the mill's
steelmaking for re-use in the production of new
steel. Harsco's recycling services are scheduled to begin in
July.
"We are delighted to engage with BaoSteel, one of the most
technologically-advanced steel producers in the world, in providing
solutions that directly support the aims of modern,
environmentally-responsive steelmaking," said Dan Attorre, Harsco
Metals regional president for Asia-Pacific.
In parallel with its expanding role in providing environmental
solutions to steelmakers, Harsco Metals has also begun a new
research and development relationship with the University of
Science and Technology in Beijing, China's most prestigious
technical institute for iron and steelmaking
technologies. Harsco Metals and the university will conduct
joint research into the physical, metallurgical and mineralogical
properties of steelmaking by-products to develop innovative market
uses and enhanced economic viability for these
materials. Eight steel producing companies in China have been
chosen to participate in the initial study.
"Both the Ningbo BaoSteel contact and our partnership with the
University of Science and Technology reflect our ultimate
commitment to help our customers achieve a worldwide, zero-waste
steel manufacturing industry," said Mr. Claro. "We are
gratified that BaoSteel has recognized Harsco and the value we
bring to this honorable objective."
Harsco Corporation is one of the world's leading diversified
industrial services and engineered products companies, serving key
industries that play a fundamental role in worldwide economic
growth, including metals, infrastructure, railways and
energy. Harsco's common stock is a component of the S&P
MidCap 400 Index and the Russell 1000 Index. Additional
information can be found at www.harsco.com.
The Harsco Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=361
CONTACT: Harsco Corporation
Investor Contact
Eugene M. Truett
717.975.5677
etruett@harsco.com
Media Contact
Kenneth D. Julian
717.730.3683
kjulian@harsco.com
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