Harscoís Multiserv Division to Increase Services at Brazilís V&M Steel Plant Under 5-Year Contract
Worldwide industrial services company Harsco Corporation (NYSE: HSC) announced today that its industry-leading MultiServ division will increase its on-site mill services to one of Brazilís top producers of seamless steel tubes under a five-year contract that is expected to generate additional new revenues of more than $30 million over the contractís duration.
The new contract with V&M do Brasil, part of the worldwide Vallourec & Mannesmann Tubes organization, expands MultiServís role to include additional service responsibilities for internal logistics, including on-site product handling and warehouse support, and management of the millís internal yards. MultiServ began its support of V&M do Brasil in 2002 after being awarded a multi-year contract to provide on-site material transport services of the millís finished and semi-finished products. The additional new services are scheduled to be phased in during the first quarter of 2008.
Vallourec & Mannesmann Tubes is a world market leader in the manufacture of seamless hot rolled steel tube. Its V&M do Brasil operations produce a range of seamless steel tubes for industrial applications and are a leading supplier to the booming Brazilian oil industry.
Harsco is one of the worldís leading diversified industrial services companies, serving major customers in the construction and infrastructure, steel and metals, energy and railway industries. Harscoís common stock is a component of the S&P MidCap 400 Index and the Russell 1000 Index. Additional information about Harsco, including its MultiServ mill services division, can be found at www.harsco.com.
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