Harsco Enters Its Second Technology Alliance This Year for Environmental Solutions; Latest Agreement Expands Harsco's Resourc...
October 26 2011 - 9:31AM
Worldwide industrial solutions company Harsco Corporation
(NYSE:HSC) announced today its second strategic technology alliance
this year aimed at providing environmental solutions to significant
industrial waste streams, with the signing of an exclusive
agreement with Equinox Environmental Limited, a UK-based "green"
technology company that has developed proprietary processes for the
cost-effective resource recovery and re-use of certain industrial
by-products.
This latest agreement will address the processing and
remediation of various industrial solid waste streams that involve
surface hydrocarbon contamination, such as oily mill scale from
steelmaking operations; used foundry sand from foundry operations;
and oil storage tank residues referred to as "tank bottoms" at oil
refineries, which are primarily a mixture of oil and sand. The
technology is designed to liberate the value in the oil and produce
an inert, oil-free residue as a by-product.
At steel mills, the technology will be used to clean oily mill
scale and allow the cleaned, oil-free scale to be recycled, thereby
returning valuable iron units into production. At the same
time, the recovered oil can be either sold or used as fuel within
the steelmaking process. At refineries, Equinox's technology
has been used to separate and recover residual oil content from
"tank bottoms." As with the oily steel mill scale, the
recovered oil can either be recycled or sold on the commercial
market. Moreover, the resultant oil-free sand can be recycled
without further processing, thus eliminating the need for
carbon-releasing burn-off, as is the case today with some current
technologies.
The companies plan to jointly market the technology as a
turn-key, onsite resource recovery and environmental compliance
service, drawing extensively from Harsco's worldwide operating
footprint in combination with Equinox's broad contacts throughout
the petroleum industry. The technology is expected to further add
to Harsco's established plant services to steelmakers, refineries
and other large industrial operations through its Harsco Metals and
Harsco Infrastructure business groups. The companies are
already in discussions with a range of industrial customers and
several pilot demonstration projects are expected to be underway in
2012.
"This is a promising technology with the potential for expanding
Harsco's knowledge-based, onsite industrial services into new
business areas," said Harsco Chairman, President and CEO Salvatore
D. Fazzolari. "We look forward to this further addition to our
growing environmental solutions portfolio."
Today's announcement follows a separate strategic technology
alliance announced by Harsco in August that similarly addresses the
Company's increasing focus on providing solutions to long-standing
environmental issues faced by heavy industries. That alliance,
with clean energy technology company LanzaTech, is targeted at the
capture and reuse of steel mill flue gases as a source of reliable
energy in the form of ethanol. LanzaTech is the first company
to successfully demonstrate the production of fuel-grade ethanol
from steel mill gases. Together, Harsco and LanzaTech plan to
accelerate the introduction of this technology to Harsco's
steelmaking customers throughout the Americas, Europe and selected
emerging markets.
About Equinox Environmental
Equinox Environmental Limited is a UK-based technology developer
and solutions provider for the treatment of specialized industrial
waste streams, including sludge and oily solids and industrial
waste water. Learn more at www.equinoxenvironmental.net.
About Harsco
Harsco Corporation is a global solutions company serving major
industries fundamental to worldwide infrastructure development and
economic growth, including steel and metals, construction, 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
Forward Looking Statements
This news release contains forward-looking statements based on
management's current expectations, estimates and projections. All
statements that address expectations or projections about the
future, including statements about Harsco Corporation's strategy
for growth, product development, market position, expected
expenditures and financial results are forward-looking statements.
Some of the forward-looking statements may be identified by words
like "may," "could," "believes," "expects," "anticipates," "plans,"
"intends," "projects," "indicates," and similar expressions. These
statements are not guarantees of future performance and involve a
number of risks, uncertainties and assumptions. Many factors,
including those discussed more fully elsewhere in this release and
in documents filed with the Securities and Exchange Commission by
Harsco Corporation, particularly the company's latest annual report
on Form 10-K and quarterly report on Form 10-Q, as well as others,
could cause results to differ materially from those stated. These
factors include, but are not limited to, changes in the worldwide
business environment in which Harsco Corporation operates,
including general economic conditions; changes in currency exchange
rates, interest rates, commodity and fuel costs and capital costs;
changes in the performance of the equity and debt markets that
could affect, among other things, the valuation of the assets in
the company's pension plans and the accounting for pension assets,
liabilities and expenses; changes in governmental laws and
regulations, including environmental, tax and import tariff
standards; market and competitive changes, including pricing
pressures, market demand and acceptance for new products, services,
and technologies; unforeseen business disruptions in one or more of
the many countries in which the company operates due to political
instability, civil disobedience, armed hostilities, public health
issues or other calamities; the seasonal nature of the company's
business; our ability to successfully enter into new contracts and
complete new acquisitions or joint ventures in the timeframe
contemplated or at all; the recent global financial and credit
crisis, which could result in our customers curtailing development
projects, construction, production and capital expenditures, which,
in turn, could reduce the demand for our products and services and,
accordingly, our sales, margins and profitability; the financial
condition of the company's customers, including the ability of
customers (especially those that may be highly leveraged and those
with inadequate liquidity) to maintain their credit availability;
the successful integration of the company's strategic acquisitions;
the company's ability to successfully jointly market Equinox's
technology; the company's ability to successfully implement
cost-reduction initiatives, including the achievement of expected
cost savings in the expected timeframe; and other risk factors
listed from time to time in the company's SEC reports. Harsco
Corporation undertakes no duty to update forward-looking
statements.
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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