Harsco Environmental Renews Metal Recovery, Scrap Processing Contract With JSW Steel

Rhea-AI Summary

Harsco Corporation (NYSE: HSC) has renewed a multi-year services contract with JSW Steel at its Dolvi operation in Maharashtra, India. This contract, effective from July 2021, will allow Harsco's Environmental division to process SMS-2 slag in addition to existing services, enhancing steel production efficiency. The renewal underlines JSW's commitment to effective waste management as it doubles its steel plant's capacities. Harsco will support JSW in achieving strategic goals for solid waste utilization, marking a significant milestone in their partnership.

Positive

• Renewed multi-year contract with JSW Steel enhances operational continuity.
• Support for processing SMS-2 slag aligns with JSW's growth strategy for increased capacity.
• Strengthened strategic partnership illustrates Harsco's market leadership.

Negative

• None.

• Renewed contract ensures continuity for JSW Dolvi as it doubles its steel plant capacities
• Engagement at Harsco India’s flagship site solidifies Company’s leadership in market

CAMP HILL, Pa., April 06, 2021 (GLOBE NEWSWIRE) -- Harsco Corporation (NYSE: HSC), a global market leader providing environmental solutions for industrial and specialty waste streams, announced today that its Harsco Environmental (HE) division has successfully renewed a multi-year services contract with JSW Steel at its Dolvi operation in Maharashtra, India.

The current service contract, which includes the processing of steel melting shop-1 (SMS1) slag, expires in June 2022. The renewed contract adds the processing of SMS-2 slag, beginning July 2021, to support Dolvi till it develops a single large metal recovery plant (MRP) at a new location, which will double its capacity. The renewal ensures HE can provide continuity for JSW Dolvi beyond expiration of the existing contract, with an upgraded plant, to cater excess slag processing until the future expansion at the new MRP takes place.

“JSW always puts emphasis on by-product/waste product management, its effective utilization and maximization of its value by employing the latest technology, which is both economically and environmentally efficient,” said JSW Dolvi Works President Gajraj Singh Rathore. “With the finalization of this contract with Harsco, JSW has again moved one step ahead towards our objective of solid waste utilization. I wish for a timely and successful implementation of the project, as it is strategically important for us to manage the slag produced from our steel meltshop 2 expansion project.”

HE currently provides several services at the Dolvi mill, including metal recovery, scrap management and under-furnace digging. These services are directly linked to consistent/continuous steel production and are critical for plant operations. Further, in 2019, HE secured three additional multi-year contracts to set up, operate and maintain slag briquetting, slag cooling and meltshop services at JSW Dolvi.

“This is another milestone in our longstanding strategic relationship with JSW Dolvi,” said Harsco Environmental Regional President of India Siva Subramaniyam. “It is proof of our client’s trust in us to deliver an upgraded and efficient metal recovery plant in the shortest time to meet the increased slag production as the Dolvi plant doubles its steel capacity.”

The formal renewal to handle SMS-2 slag production begins around July 2021. To learn more about Harsco’s market-leading environmental solutions, visit www.harsco-environmental.com.

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 steel, railways and energy industries. Based in Camp Hill, Pennsylvania, the 13,000-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 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 waste streams. Visit www.harsco-environmental.com to learn more.

About JSW Group
JSW Group is India's largest steel exporter, shipping to more than 100 countries in five continents. Over the last 35 years, it has been at the forefront of state of the art and cutting-edge technology in the steel industry. Driven by research and innovation, JSW has opened the gateway to self-reliance and sustainability. Starting with a single plant in 1982, it is now India's leading manufacturer of high-grade steel products.

Investor Contact  David Martin 717.612.5628 damartin@harsco.com

Media Contact Jay Cooney 717.730.3683 jcooney@harsco.com

 

FAQ

What does the renewed contract with JSW Steel involve for Harsco (HSC)?

The renewed contract allows Harsco to process SMS-2 slag, enhancing operational efficiency at JSW Steel's Dolvi plant.

When does the renewed contract with JSW Steel start for Harsco (HSC)?

The renewed contract begins in July 2021.

How will the renewed contract affect Harsco's services at the Dolvi plant?

The contract will expand Harsco's services to include SMS-2 slag processing, critical for increased steel production.

What is the significance of the contract renewal for Harsco (HSC)?

The renewal solidifies Harsco's leadership in the market and demonstrates the trust JSW Steel places in its services.

How does the contract renewal relate to JSW Steel's capacity expansion?

The renewal supports JSW Steel's strategy to double its plant capacities by facilitating the processing of increased slag production.