Harsco Sees Strong Markets for its Access Services Group; receives Three New International Contracts totaling more than $3M
Worldwide industrial services company Harsco Corporation (NYSE: HSC) announced today three new international contracts totaling more than $3 million in Dubai and Norway for rental formwork and scaffolding engineering and equipment support to major construction projects. The contracts underscore the continuing global growth opportunities within Harsco’s Access Services group, as end-market conditions for non-residential and infrastructure construction remain strong in key regions served by Harsco.
Under two of the latest contracts, Harsco’s Hünnebeck division will supply its state-of-the-art rental formwork to two prestigious building projects in Dubai. Formwork is used throughout construction to form cast-in-place concrete walls, decks, columns and other large concrete structures. The orders, which follow Harsco’s recent June 11 announcement of two additional contracts in Dubai, further confirm Harsco’s increasing presence as one of the Gulf region’s leading providers of rental formwork, scaffolding and related erection and dismantling services for large-scale construction projects.
The Hünnebeck formwork will be used on a new hotel and apartment building being built as part of the new Dubai Health Care City. The massive new complex is targeted to become the world’s first health care free-zone and will serve as a regional center for medical services, medical education, and life science research and development in the Middle East. Hünnebeck will also supply rental formwork for the construction of the new Oasis Center Shopping Mall in Dubai. The new mall, scheduled to be completed in 2008, will almost triple the size of a previous mall with four levels of retail space totaling approximately 600,000 square feet, as well as additional office space and parking.
Under the third contract, Harsco will provide rental formwork and scaffolding for the construction of a new multi-lane expressway tunnel being built in Oslo, Norway. Harsco’s engineered solution for the project involves a combination of wall and ceiling formwork systems from the Hünnebeck division and Cuplok scaffolding provided by Harsco’s SGB division. It is Harsco’s first project in Norway to combine the engineering and rental equipment resources of the two divisions.
Harsco’s Access Services business group operates from an extensive global network that provides the industry’s broadest range of rental access and concrete forming and shoring equipment and services to many of the world’s largest non-residential construction and infrastructure projects. Harsco is also a market leader in serving the access requirements of the worldwide industrial plant maintenance sector. Harsco’s Access Services group includes the international SGB and Hünnebeck divisions, and the North America-based Patent division.
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