HARRISBURG, Pa., March 11, 2011 (GLOBE NEWSWIRE) -- Worldwide industrial services and engineered products company Harsco Corporation (NYSE:HSC) announced today that its Harsco Metals group has been awarded two key multi-year contract renewals from one of Mexico's major steelmakers totaling more than $225 million in projected revenues.
The contracts, each close to ten years in duration and reflecting new and expanded commercial terms, extend Harsco's strong relationships with steelmaker Ternium México at Ternium's two Monterrey operations, Guerrero and Apodaca. The sites represent over 40 years of Harsco support at one location and more than 15 years at the other. Harsco Metals provides both mills with a range of onsite scrap management, slag management, slag handling and metal recovery services, as well as mineral and DRI (direct reduced iron) handling services. A major producer of steel for both the domestic and export markets, Ternium México is a unit of Ternium S.A., one of the leading steel companies in Latin America.
Announcing the contracts, Harsco Metals and Harsco Minerals Group CEO Galdino Claro said, "These are substantial, value-enhancing awards that reaffirm our long-term competitive opportunities in this emerging market region. The Mexican steel and metals sector is re-inventing itself with technical advances, continued consolidation and increased productivity. These objectives align well with our Harsco business model for innovation and technical leadership, and our overall strategies for further expansion within the world's developing economies."Harsco Corporation serves key industries that play a fundamental role in global infrastructure development, including construction, metals, 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 . The Harsco Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=361
CONTACT: Investor Contact Eugene M. Truett 717.975.5677 email@example.com Media Contact Kenneth D. Julian 717.730.3683 firstname.lastname@example.org
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV