Harsco Signs Multiyear Mill Services Contract With Ezz Steel
August 09 2016 - 9:22AM
Mill services agreement with Egyptian
firm marks further inroads into Africa and Middle East
markets
Harsco Corporation (NYSE:HSC) announced today that its Metals &
Minerals division has signed a new, multiyear contract with Ezz
Steel, the largest independent steel producer in the Middle East
and North Africa. The contract – valued at more than $35
million – calls for the provision of mill services at Ezz Steel’s
Sadat City plant. Under the terms of the agreement, Harsco
will provide slag and scrap management services at Sadat City, with
future plans to design and deliver Metal Recovery and Briquetting
Plants. Service at the Sadat City plant began on July 1.
This new contract builds on Harsco’s existing service agreements
with Ezz Steel Group plants in Sokhna and Alexandria, Egypt.
In operation since the 1980s, Ezz Steel is an established
leader in the expanding Egyptian steel market, with a combined
production capacity at its sites of nearly 6 million tons of
finished steel per year.
Harsco’s expanded agreement with Ezz Steel further broadens
Metals & Minerals’ business landscape in the Africa and Mideast
steel markets. “This new contract is an excellent opportunity
for Harsco to build an even stronger presence in this strategically
important region,” said Harsco President and CEO Nick Grasberger.
“I am proud of the services Metals & Minerals delivers to
all of our customers. This expanded relationship with Ezz is
testament to the trust and confidence that we work to build at
every site, every day.”
Ezz Steel Group Co-Managing Director Hassan Nouh pointed to
Harsco’s reputation for responsible environmental stewardship as a
contributing factor in expanding the relationship. “We are
continuously working toward optimizing our operations with an
emphasis on environmental management,” he said. “This new
contract will help us develop – partnering with Harsco – innovative
solutions for our byproducts, including slag and DRI dust.
Together, we can focus on bringing down cost while, at the
same time, providing environmentally-friendly services and
products.”
About Harsco Corporation:Harsco Corporation is
a 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. 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 is a technology
partner to cleaner, more efficient metal production, providing
customers with economically and environmentally viable solutions
for the treatment and reuse of production waste streams.
About Al Ezz Steel Group:Al Ezz Steel is the
largest independent steel producer in the Middle East and North
Africa with total production capacity of nearly 6 million tons of
finished steel per annum - long products with a capacity of 3.5
million tons and flat products with a capacity of 2.3 million tons.
The company produces long and flat products at its manufacturing
facilities located at Alexandria, Suez, Sadat City and 10th of
Ramadan City. Ezz Steel directly owns production facility in Sadat
City, it has 55% direct stake in Al Ezz Dekheila Steel Company
(EZDK) facility in Alexandria, 99% direct stake in Al Ezz
Rolling Mills (ERM) facility in 10th of Ramadan City and 34% direct
stake and 55% indirect stake (through EZDK) in Al Ezz Flat
Steel Company (EFS). Additional information can be found
at www.ezzsteel.com.
Investor Contact
David Martin
717.612.5628
damartin@harsco.com
Media Contact
Susan Firey
717.975.3886
sfirey@harsco.com
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