Mill services agreement with Egyptian firm marks further inroads into Africa and Middle East markets
CAMP HILL, Pa., Aug. 09, 2016 (GLOBE NEWSWIRE) -- Harsco Corporation (NYSE:HSC) announced today that its Metals & Minerals division has signed a new, multiyear contract with Ezz Steel, the largest independent steel producer in the Middle East and North Africa. The contract – valued at more than $35 million – calls for the provision of mill services at Ezz Steel’s Sadat City plant. Under the terms of the agreement, Harsco will provide slag and scrap management services at Sadat City, with future plans to design and deliver Metal Recovery and Briquetting Plants. Service at the Sadat City plant began on July 1.
This new contract builds on Harsco’s existing service agreements with Ezz Steel Group plants in Sokhna and Alexandria, Egypt. In operation since the 1980s, Ezz Steel is an established leader in the expanding Egyptian steel market, with a combined production capacity at its sites of nearly 6 million tons of finished steel per year.
Harsco’s expanded agreement with Ezz Steel further broadens Metals & Minerals’ business landscape in the Africa and Mideast steel markets. “This new contract is an excellent opportunity for Harsco to build an even stronger presence in this strategically important region,” said Harsco President and CEO Nick Grasberger. “I am proud of the services Metals & Minerals delivers to all of our customers. This expanded relationship with Ezz is testament to the trust and confidence that we work to build at every site, every day.”
Ezz Steel Group Co-Managing Director Hassan Nouh pointed to Harsco’s reputation for responsible environmental stewardship as a contributing factor in expanding the relationship. “We are continuously working toward optimizing our operations with an emphasis on environmental management,” he said. “This new contract will help us develop – partnering with Harsco – innovative solutions for our byproducts, including slag and DRI dust. Together, we can focus on bringing down cost while, at the same time, providing environmentally-friendly services and products.”
About Harsco Corporation:
Harsco Corporation is a diversified industrial company providing a range of onsite services and engineered products to the global steel, energy and railway sectors. Harsco’s common stock is a component of the S&P SmallCap 600 Index and the Russell 2000 Index. Additional information can be found at www.harsco.com. Harsco’s Metals & Minerals division is the largest and most comprehensive provider of onsite material processing and environmental services to the worldwide metals industry, with operations at approximately 140 customer sites across more than 30 countries. The division is a technology partner to cleaner, more efficient metal production, providing customers with economically and environmentally viable solutions for the treatment and reuse of production waste streams.
About Al Ezz Steel Group:
Al Ezz Steel is the largest independent steel producer in the Middle East and North Africa with total production capacity of nearly 6 million tons of finished steel per annum - long products with a capacity of 3.5 million tons and flat products with a capacity of 2.3 million tons. The company produces long and flat products at its manufacturing facilities located at Alexandria, Suez, Sadat City and 10th of Ramadan City. Ezz Steel directly owns production facility in Sadat City, it has 55% direct stake in Al Ezz Dekheila Steel Company (EZDK) facility in Alexandria, 99% direct stake in Al Ezz Rolling Mills (ERM) facility in 10th of Ramadan City and 34% direct stake and 55% indirect stake (through EZDK) in Al Ezz Flat Steel Company (EFS). Additional information can be found at www.ezzsteel.com.