Harsco Signs Ten Year, $60 Million Mill Services Contract in Egypt
Harsco Corporation (HSC)
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Source: GlobeNewswire
CAMP HILL, Pa., April 25, 2017 (GLOBE NEWSWIRE) -- Harsco Corporation (NYSE:HSC) announced today that its Metals & Minerals division has signed a new, ten year mill services contract with Egyptian Steel, the manufacturer of rebar, wire rods and billets in the Middle East and North Africa. The contract, valued at approximately $60 million in projected revenues over its duration, calls for the provision of mill services at Egyptian Steel’s Ain Sokhna plant, a new steelmaking facility now under construction in support of Egyptian Steel’s rapid market expansion. Under the terms of the agreement, Harsco will provide slag management, scrap management and material handling services, with future plans to design and operate onsite metal recovery and briquetting plants. Harsco’s services at the Ain Sokhna plant are scheduled to begin in January 2018. The contract strengthens Metals & Minerals’ market-leading role in the Africa and Middle East steel markets, where Harsco has been providing
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