Harsco Signs Expanded 15-Year Mill Services Contract With China’s Largest Steelmaker Valued at $125 Million
February 04 2016 - 4:32PM
Global industrial company Harsco Corporation (NYSE:HSC) announced
today a new 15-year contract for onsite mill services at the
Tangshan plate mill facility of China’s largest steelmaker, Hebei
Iron & Steel (HBIS) Group.
The plate mill is one of two subsidiaries of Hebei’s Tangshan
Iron and Steel Group, known as TangSteel, served by Harsco.
Since 2011, Harsco has supported the plate mill with a range of
slag handling and metal recovery services through a Harsco-led
joint venture relationship, and this latest award, valued at
approximately $125 million over the contract duration, builds on
the previous effort. Harsco will significantly expand its
role to encompass a new metal recovery plant, BOF briquetting
operation and a new, innovative steam-box slag cooling process, as
the plate mill consolidates and expands its production capacity to
4 million tpa. The mill produces premium-grade plates and
sections used in various structural applications and
shipbuilding.
In announcing the latest award, Harsco President and CEO Nick
Grasberger said, “We are particularly proud to add to our strong
relationship with HBIS and its flagship TangSteel operations.
Over the past decade, we have worked side-by-side as a technology
and service partner to deliver efficiency improvements and enhanced
environmental performance to these major operations. Our aims
and those of HBIS and TangSteel are firmly aligned on these
objectives.”
The new contract adds to Harsco’s substantial market presence in
China, where the Company serves not only the steel industry through
its Harsco Metals & Minerals division, but also the Chinese
rail sector through its Harsco Rail division, and the industrial
grating sector through its Harsco Industrial division. The
new plate mill contract will operate under the Harsco Metals &
Minerals division, where Mr. Yan Zhang, a 19-year veteran of the
Company and its mill services’ operations, has recently been named
the division’s Regional President for China.
Harsco’s Metals & Minerals division is the largest and most
comprehensive provider of onsite material processing and
environmental services to the worldwide metals industry, with
operations at approximately 140 customer sites across more than 30
countries. The division provides leading steel and metals
producers with economically and environmentally viable solutions
for the treatment and reuse of their production waste streams.
About Harsco Corporation
Harsco Corporation is a leading diversified industrial company
providing a range of onsite services and engineered products to the
global steel, energy and railway sectors. Harsco’s common
stock is a component of the S&P SmallCap 600 Index and the
Russell 2000 Index. Additional information can be found at
www.harsco.com.
Investor Contact
David Martin
717.612.5628
damartin@harsco.com
Media Contact
Kenneth Julian
717.730.3683
kjulian@harsco.com
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