Harsco’s Excell Minerals Division Captures Two New Contracts in Europe Totaling more than $20 Million
Worldwide industrial services company Harsco Corporation (NYSE: HSC) announced today that its newest operating division, Excell Minerals, will expand its international footprint in Europe with the receipt of two contracts in France and Germany totaling more than $20 million in projected new revenues.
Harsco acquired Excell Minerals in February 2007 and its performance has been accretive to Harsco’s earnings since that date. Excell is an industry leader in extracting high-value metal content from specialty steelmaking slags, and also produces a range of environmentally-beneficial mineral-based products for commercial markets. The division had 2006 sales of just over $100 million.
Excell has been awarded a five-year contract, its first in France, at ArcelorMittal’s Imphy Alloys specialty steel works where Excell will recover high-value metallic content from the mill’s slag, both from an existing stockpile and from the mill’s ongoing production. Imphy Alloys specializes in developing and producing a wide range of high-performance steel products.
Excell’s proprietary metal recovery processes are able to extract virtually 100% of the high-value metallic content from specialty steel slag. The Imphy works has committed to purchasing all of the extracted metal for re-use in new production, and Excell will also develop and market the processed aggregate materials throughout the region. Owing to their inherent chemical properties and interlocking structural form, the processed aggregates are regarded as an excellent source material for such applications as skid-resistant asphalt paving and high endurance railroad ballast, and as a soil-enhancing additive.
In addition to its metal recovery responsibilities at the Imphy Alloys works, Excell’s contract calls for a broader range of ongoing mill services that will be assigned to Harsco’s MultiServ division, thus continuing MultiServ’s more than 15-year relationship at this location. The new and unique combination of Harsco’s Excell and MultiServ divisions as joint on-site service providers under one corporate parent takes maximum advantage of Excell’s proprietary processes for high-value metal recovery from specialty steel mill operations in combination with MultiServ’s global expertise in the broader range of mill services.
“This award underscores our strategies and opportunities for extending Excell’s reach into the broader international arena, and further demonstrates the excellent partnering opportunities that are now possible between our Excell and MultiServ divisions for joint collaboration in support of customers,” said Salvatore D. Fazzolari, Harsco President and Chief Financial Officer, and CEO-designee effective January 1, 2008.
In Germany, Excell will continue its exploratory development work with BGH Freital, a specialty steel works in Germany where Excell has been perfecting techniques for processing the mill’s specialty alloy steel slags. The plant produces almost 200 different kinds of steel with a total production in excess of 175,000 tons per year. The new contract calls for Excell to implement additional steps to further recover the fine-scale metallic content from the mill’s slags, while also continuing its research into regional markets for the aggregate material. The contract enables Excell to further develop its capabilities for extending services to small specialty steel producers who are seeking commercially viable and environmentally sound solutions for their steelmaking slags.
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