CAMP HILL, Pa., Oct. 9, 2012 (GLOBE NEWSWIRE) -- Diversified global industrial company Harsco Corporation (NYSE:HSC) jointly announced today with Tata Steel that Harsco's Metals & Minerals group and Tata Steel UK have agreed to extend their long-term relationship at the Scunthorpe and Port Talbot steelworks in a UK-wide, multi-year contract.
Announcing the agreement, Galdino Claro, Executive VP and Group CEO of Harsco Metals & Minerals, said, "We are delighted that Tata have agreed to extend a 30 year old relationship with us at Scunthorpe and Port Talbot in what is the first UK-wide deal ever signed by both companies combining the Tata Steel Strip and Longs businesses. Tata are making huge investments in the UK despite the current economic climate, and Harsco is delighted to be able to support them through our onsite expertise and leading-edge technologies."
Harsco will continue providing an array of services on both sites including metal recovery, scrap management, briquetting, slab handling, coke crushing and machine scarfing. The new agreement will also give both companies a solid base to work from in introducing and applying new technology-based solutions which will be critical to tackling the environmental challenges faced by the steel industry.Ken Milne, UK Procurement Director, Tata Steel: "The outcome of this two-year process is a benchmark contract which illustrates the strong relationship between Tata Steel and Harsco. The contract is underpinned by strong values and is structured to support both companies with their business needs through all aspects of the steel and economic cycle. We look forward to working with Harsco in the coming years to deliver sustainable value and competitive advantage to Tata Steel." About Tata Steel in Europe The European operations of Tata Steel comprise Europe's second largest steel producer. With the main steelmaking operations in the UK and Netherlands, they supply steel and related services to the construction, automotive, packaging, lifting & excavating, energy & power, aerospace and other demanding markets worldwide. The combined Tata Steel group is one of the world's largest steel producers, with an aggregate crude steel capacity of more than 28 million tonnes and approximately 80,000 employees across four continents.
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 + 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