HARRISBURG, Pa., Aug. 30, 2007 (PRIME NEWSWIRE) -- Worldwide industrial services and products company Harsco Corporation (NYSE:HSC) announced today new contracts on major construction projects in Qatar and Dubai totaling more than $9 million.
The awards to Harsco's SGB division underscore the continuing rapid growth of Harsco's access services operations throughout the Persian Gulf region, where major construction and infrastructure expansion continues at near-record levels in many areas. Harsco's combined presence makes it one of the Gulf region's leading providers of total access solutions for major non-residential and infrastructure construction and industrial maintenance projects. In addition to SGB, Harsco's Huennebeck access services division is also increasingly active in this region, with ongoing projects that include formwork for the new Dubai Health Care City and the new H.H. Sheikh Hamdan Awards Building Complex, as previously announced by the Company.
The latest contracts range from 12 months to four years in duration and include the supply and installation of rental scaffolding during the construction of four new refineries in Qatar and the sale and rental of concrete formwork throughout construction of the New Doha International Airport (NDIA), scheduled to open in 2009 as the new home for Qatar Airways. Phase One construction of the airport will include a new three-story terminal with more than 1.5 million square feet (140,000 square meters) of floor space. Significant additional bidding opportunities on the NDIA project are expected throughout the next several years as additional phases of construction are already planned, including a two-step expansion of the terminal building that will eventually extend its size to 4.5 million square feet (416,000 square meters). SGB's operations in Qatar have grown from 35 operating personnel to 250 within just the past three years, reflecting its increasing status as one of the country's most complete and professional access service providers.
The latest awards also include a rental scaffolding and installation contract from international construction group Larsen & Toubro to support the building of a major extension to the Emirates National Oil Company facility at Jebel Ali in Dubai. SGB's scaffolding will provide contractor access during the placement of piping throughout the new facility and for the plant's insulation and painting. SGB will support the project from its Dubai-based SGB Quebeisi subsidiary, which has been operating as one of the region's leading forming, shoring and scaffolding services providers for more than 30 years.
In addition to the international SGB and Huennebeck divisions, Harsco's access services group also includes the Company's Patent Construction Services division, which is a market leader for access services and equipment throughout North America. All three divisions are strongly positioned to continue to share in the ongoing market expansion for non-residential and infrastructure construction in major markets throughout the world. The combined Harsco global access services group operates from more than 200 branch locations in some 32 countries.
Harsco Corporation is one of the world's leading diversified industrial services companies, serving major customers in the non-residential construction and infrastructure, steel and metals, energy, and railway industries. The Company posted 2006 revenues of $3.4 billion and employs approximately 21,500 people worldwide. 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.
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