HARRISBURG, Pa., Feb. 5, 2004 (PRIMEZONE) -- Worldwide industrial services and products company Harsco Corporation (NYSE:HSC) announced today that its MultiServ mill services division has been awarded a new three-year contract for on-site coil packaging and handling services at the Arcelor Packaging International steel works in Mardyck, northern France. The contract is valued at approximately $15 million over its duration, with provisions for follow-on extension. Work is now underway and is expected to generate positive Economic Value Added (EVA(r)) benefit from its inception.
MultiServ has provided support to the Mardyck works for more than 30 years. Under this latest contract, the division is assuming responsibility for the management of a large sector of the mill's packaging line, to include the handling and packaging of steel coils until they are shipped by rail or truck from the site. No capital investment will be required. MultiServ's expanded duties will parallel the mill's plans to convert its electrolytic galvanizing line over to higher-demand hot dipped galvanizing within the next two years, with a planned 15 percent increase in production capacity to about 400,000 tons per year.
MultiServ provides the world's leading steelmakers with a comprehensive range of services that support the entire steelmaking process. The division operates at more than 160 mills in more than 30 countries, making it the world's single largest provider of on-site, outsourced mill services to the steel and metals industries. Arcelor Packaging International is Europe's leading producer of packaging steels for the automotive, food and beverage, electronics and consumer goods industries, comprising six production plants and three service and finishing operations throughout Europe.
Harsco Corporation is a diversified $2.1 billion worldwide industrial services and products company employing approximately 17,500 people in more than 40 countries of operation. Harsco's market-leading businesses provide mill services, access services, gas and fluid control products, and other infrastructure products and services to customers worldwide. Additional information about Harsco, including its MultiServ division, can be found at www.harsco.com.
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