Harsco Renews Three Multi-Year Service Contracts in the U.S. Valued at More Than $120 Million
CAMP HILL, Pa., May 22, 2012 (GLOBE NEWSWIRE) -- Global industrial services and engineered products company Harsco Corporation (HSC) announced today its receipt of three significant multi-year service contract renewals in the U.S. having combined revenues of more than $120 million over their duration.
The awards continue Harsco's long-standing onsite service roles at two leading U.S. steelmaking locations as well as its remediation of a former steelmaking site, the now-closed Geneva Steel works in Vineyard, Utah, where Harsco will continue its resource recovery services in preparation for the site's pending redevelopment. The massive 1,700 acre, master-planned Geneva community on the shores of Utah Lake is planned to add as many as 7,500 new residential homes and 11 million square feet of office, industrial and retail space to the area.
The recovery of valuable resources from slag left behind by former steelmaking operations has become a growing Harsco service specialty, widely recognized for its substantial environmental and economic recovery benefits. The Company's similar work to eliminate long-standing slag stockpiles at the former Gulf States Steel works in Gadsden, AL has been praised by the U.S. Environmental Protection Agency as a model public-private partnership.
The renewals add to a record level of major contract awards announced last year by the Harsco Metals & Minerals group totaling more than $1 billion in projected future revenues, as well as new contracts already announced this year totaling an additional $170 million in projected revenues. At expected production levels, the group's multi-year service contracts represent an estimated $3.7 billion in projected future revenues as of December 31, 2011, providing the Company with a substantial base of long-term revenues.
Harsco Corporation is a diversified industrial company that is helping build the world by providing essential services and products to fundamental global industries, including steel and metals production, construction, railways and energy. 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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