Harsco Secures New Multi-Year Contract in Brazil Valued At $90 Million
July 25 2011 - 4:28PM
Worldwide industrial solutions and engineered products company
Harsco Corporation (NYSE:HSC) announced today it has been awarded a
new multi-year contract valued at more than $90 million over its
duration to support an all-new steel mill in Brazil with onsite
environmental and logistics services.
The nine-year contract at the new Vallourec & Sumitomo Tubos
do Brasil (VSB) steel complex marks a further expansion of Harsco's
strong presence in the Brazilian steel and metals sector and a key
opportunity to support the greenfield start-up of an all-new
steelmaking operation. The contract builds on Harsco's
long-standing relationship with the Vallourec group and its V&M
do Brazil operations, which Harsco also supports with similar
services. The all-new VSB mill is a joint venture between Vallourec
and Japan's Sumitomo Metals aimed at the production of seamless
steel tubes for the oil, gas and petrochemical markets. Using
state-of-the-art steel technology, the plant will have a
steelmaking capacity of 1 million tons of crude steel per year and
an extrusion mill that will produce 600 thousand tons of seamless
steel tubes per year. Harsco's onsite metal recovery and
logistics services are scheduled to begin ramping up next month,
with full operations expected in the second half of 2012.
Announcing the award, Harsco Executive VP and Metals &
Minerals Group CEO Galdino Claro said, "We are proud to be selected
for this all-new plant and to work in collaboration with the VSB
partnership. The oil and gas industry in Brazil and other
export regions is expanding rapidly, and VSB is expected to become
a major supplier to international markets. We look forward to
making a very positive impact with expert environmental and
logistics solutions that interface directly with VSB's core
production."
Harsco has been steadily expanding its overall presence in
Brazilian's industrial markets, most recently with its announcement
of a new joint venture in Brazil for industrial grating production
to serve the region's growing energy, mining, offshore oil and gas,
and infrastructure sectors. Harsco is also Brazil's largest
provider of onsite environmental and logistics solutions to the
steel and metals-producing industry, and a growing provider of
railway track maintenance equipment to the Brazilian rail
network.
Harsco Corporation is a global solutions company serving major
industries that are fundamental to worldwide infrastructure
development and economic growth. 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: 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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