Harsco Environmental Extends Contractual Relationship With Arkansas Steel Associates LLC

Rhea-AI Summary

Harsco Corporation (NYSE: HSC) has secured a new seven-year contract with Arkansas Steel Associates LLC (ASA) for mill services, extending their previous agreement. This contract covers essential services including scrap management, slag processing, and refractory services. The contract underscores Harsco Environmental's status as ASA's preferred provider and sets a solid foundation for environmental sustainability initiatives. ASA is a prominent supplier of tie plates in the North American railway industry, and both companies aim to achieve sustainable goals over the contract's duration.

Positive

• New seven-year contract with Arkansas Steel Associates secures ongoing business.
• Contract scope includes critical services: scrap management and slag processing.
• Strengthens Harsco Environmental's position as ASA's preferred service provider.

Negative

• None.

• New seven-year contract ensures continuity for ASA’s Newport, Arkansas, operation.
  
• Contract scope is for mill services and includes scrap management, slag management and refractory services.

CAMP HILL, Pa., Aug. 05, 2021 (GLOBE NEWSWIRE) -- Harsco Corporation (NYSE: HSC), a global market leader providing environmental solutions for industrial and specialty by-products, announced today that its Harsco Environmental division has successfully entered into a new multi-year services contract with existing customer, Arkansas Steel Associates LLC (ASA), based in Newport, Arkansas.

This new agreement extends Harsco Environmental’s prior seven-year relationship for another seven years, cementing Harsco Environmental as ASA’s preferred service provider for slag and scrap management, slag processing, metal recovery and refractory services.

“Arkansas Steel Associates is pleased that Harsco Environmental will be our mill service provider for another seven-year contract period,” said Rich Anderson, Vice President, Sales and Purchasing, of ASA. “We have appreciated Harsco Environmental’s good service and responsiveness to our needs.”

ASA is a leading supplier of tie plates to the North American railway industry.

“This contract extension provides a strong foundation for Harsco Environmental and Arkansas Steel Associates to continue their efforts focused on achieving sustainable environmental goals for years to come,” said Russ Mitchell, Vice President and Chief Operating Officer of Harsco Environmental.

To learn more about Harsco’s market-leading environmental solutions, visit www.harsco-environmental.com.

About Harsco Environmental
Harsco's Environmental division is the largest and most comprehensive provider of onsite material processing and environmental services to the global metals industry, with operations at over 130 customer sites across more than 32 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 by-products. Visit www.harsco-environmental.com to learn more.

About Harsco Corporation
Harsco Corporation (NYSE: HSC) is a global market leader providing environmental solutions for industrial and specialty waste streams, and innovative technologies for the rail sector. Based in Camp Hill, PA, the 12,000-employee company operates in more than 30 countries. 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.

About Arkansas Steel Associates LLC
Commitment to quality and dedication to exceeding customer expectations are just two of the reasons Arkansas Steel Associates LLC continues to be the leading supplier of tie plates for the railway industry. In October 1989 Sumitomo Corporation and Yamato Kogyo Company, Ltd., Japan, joined to purchase the assets of a small steel mill located in Newport, Arkansas. That mill, which produced specialty products for the railroad industry, came to be known as Arkansas Steel Associates LLC (ASA). For more information, visit www.arkansassteel.com.

Investor Contact		Media Contact
David Martin		Jay Cooney
717.612.5628		717.730.3683
damartin@harsco.com		jcooney@harsco.com

 

FAQ

What is the new contract between Harsco Corporation and Arkansas Steel Associates?

Harsco Corporation has signed a new seven-year contract with Arkansas Steel Associates for mill services, including scrap management and slag processing.

How does the new contract impact Harsco Corporation's operations?

The contract extends Harsco's relationship with ASA, ensuring ongoing revenue and reinforcing its role in providing essential environmental services.

When was the new contract announced between Harsco and ASA?

The new contract was announced on August 5, 2021.

What services does Harsco provide under the new contract with ASA?

Harsco will provide services such as scrap management, slag processing, and refractory services under the new contract.

How long is the contract between Harsco Corporation and ASA?

The contract is for seven years.