HARRISBURG, Pa., Nov. 13, 2003 (PRIMEZONE) -- Worldwide industrial services and products company Harsco Corporation (NYSE:HSC) announced today that its Heckett MultiServ division, the world's leading provider of outsourced, on-site services to steel mills and other metals producers, has been awarded a new multi-year contract by Steel Dynamics, Inc. to provide specialized mill services at its revitalized Pittsboro, Indiana steel bar products mini-mill facility. Terms were not disclosed.
Heckett MultiServ will assume the responsibilities of the site's previous contractor for performing all on-site mobile carrier slag handling, metallic recovery, revert scrap collection and preparation, and slag marketing in support of the mill's production operations. Steel Dynamics acquired the facility last year from Qualitech Steel and has announced plans to invest approximately $75 million to upgrade and expand the mill's production capacity as part of the company's new Bar Products Division.
Gene A. Iannazzo, Heckett MultiServ's Executive Vice President and General Manager for North America, said, "Heckett MultiServ is very pleased to add Steel Dynamics to its customer base. We are looking forward to a long and mutually beneficial operating relationship with this progressive company." Glenn Pushis, General Manager of Steel Dynamic's Bar Product Division, said, "We are glad to have Heckett MultiServ with their global experience as a key supplier."
The new agreement adds to Harsco's substantial base of multi-year mill services contracts, which at year-end 2002 had an estimated future value of approximately $3 billion. The contract is also forecast to generate positive Economic Value Added (EVA(r)) benefit after its first year of operation. As the world's leading provider of outsourced mill services, Heckett MultiServ operates on-site at approximately 150 mills in over 30 countries, providing a broad range of high-technology services that include slag handling and metal recovery, by-product recovery and recycling, semi- and finished-product management, integrated materials handling, specialist transportation, and asphalt and aggregate marketing.
Harsco Corporation is a $2 billion diversified 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 Heckett MultiServ division, can be found at www.harsco.com.
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