Harsco Environmental Renews Contract With Jindal Shadeed Iron and Steel LLC in Oman

Rhea-AI Summary

Harsco Corporation (NYSE: HSC) has renewed a five-year contract with Jindal Shadeed Iron and Steel LLC (JSIS), a major steel producer in Oman. This renewal focuses on environmental sustainability, as it allows JSIS to reduce its carbon footprint while managing slag and metal recovery. JSIS, with an annual steel production capacity of 2.4 million tons, benefits from Harsco's expertise, ensuring efficient and eco-friendly operations. The contract renewal underscores the strong partnership between the two companies, with Harsco Environmental committed to supporting JSIS's growth and operational needs.

Positive

• Five-year contract renewal with JSIS ensures operational continuity.
• Strengthens Harsco's position in the Middle East market.
• JSIS can reduce its carbon footprint while increasing production.

Negative

• None.

• Five-year contract renewal ensures continuity and a reduced carbon footprint for Jindal Shadeed Iron and Steel LLC’s operations in Oman.
  

CAMP HILL, Pa., Jan. 06, 2022 (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 renewed their contract with Jindal Shadeed Iron and Steel LLC, (JSIS) a leading iron and steel producer in Oman.

With an annual steel production capacity of 2.4 million tons, JSIS serves clients in Oman, the United Arab Emirates, Saudi Arabia, China, Canada, Australia and parts of Europe, among others. Renewing their contract with Harsco Environmental allows JSIS to focus on their production while knowing their slag is being handled and utilized for different applications in an environmentally friendly way.

“Harsco Environmental is pleased to continue its services with Jindal Shadeed Iron and Steel. JSIS is a key steel producer and one of our valued customers in the Middle East. I am confident our relationship will continue to grow as JSIS expands,” said Russ Mitchell, Vice President and Chief Operating Officer of Harsco Environmental.

Harsco Environmental will continue to provide slag management and metal recovery as well as skull processing services for JSIS over the next five years.

“Using Harsco Environmental’s services to manage our slag benefits us in many ways,” said Mr. Sanjay Anand, Chief Operating Officer and Head of JSIS in Oman. “We are able to reduce our carbon footprint while increasing our production. Thanks to Harsco Environmental’s operational know-how, safety record and continuous support, JSIS can trust that each service provided is being done with the highest level of care.”

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.

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

FAQ

What is the significance of Harsco's contract renewal with JSIS?

The renewal ensures ongoing support for JSIS's operations, allowing them to enhance production and reduce their carbon footprint.

How does the contract affect Harsco Corporation's stock (HSC)?

The contract reinforces Harsco's market presence and can positively influence investor confidence, potentially affecting the stock's performance.

What services will Harsco Environmental provide to JSIS?

Harsco will continue to offer slag management, metal recovery, and skull processing services over the next five years.

What is JSIS's annual steel production capacity?

Jindal Shadeed Iron and Steel LLC has an annual steel production capacity of 2.4 million tons.

Where does JSIS distribute its steel products?

JSIS serves clients in Oman, UAE, Saudi Arabia, China, Canada, Australia, and parts of Europe.