Harsco’s MultiServ Division Receives New Add-On Contracts in Latin America valued at more than $15 million in Additional Revenue
Worldwide industrial services company Harsco Corporation (NYSE: HSC) announced today that its industry-leading MultiServ division will expand its services to two of the leading steel producers in Latin America under multi-year contracts that are expected to generate more than $15 million in additional new revenues over their duration.
The contracts further extend MultiServ’s on-site mill services at three Mexico-based operations of Ternium, one of the leading steel companies in Latin America, and at Siderperú, Peru’s largest steel producer.
At Ternium Hylsa’s flat rolled steel manufacturing plant in Monterrey, Mexico, MultiServ has been awarded a new five-year contract that expands the division’s responsibilities to include the handling of the mill’s iron ore and other raw materials. The latest contract adds to a 40-year MultiServ presence at this site. MultiServ has also been awarded added responsibilities for scrap basket handling at Ternium’s Apodaca long products plant, and a multi-year renewal of its coil handling and transport services at Ternium’s long products plant in Puebla. A member of the worldwide Techint Group, Ternium consolidates the operations of the steel companies Hylsa in Mexico, Siderar in Argentina and Sidor in Venezuela. Ternium also recently announced its acquisition of Grupo Imsa, a steel manufacturer with operations in Mexico, the United States and Guatemala.
MultiServ’s contract in Peru at the Siderperú steelmaking plant expands the division’s responsibilities to include work previously performed by the mill in such areas as on-site slag transport, slag processing and metal recovery. The Siderperú mill was acquired last year by the Gerdau Group, and the new contract follows Gerdau’s strong outsourcing relationships with MultiServ at several other locations. Gerdau is the largest producer of long steel in the Americas, with mills in Argentina, Brazil, Canada, Chile, Columbia, Mexico, Peru, Uruguay and the United States. Newly revitalized under Gerdau’s ownership, the Siderperú mill is on track to nearly double its production output by the end of this decade.
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