Harsco Environmental Signs Extension Contact With Compañía Siderúrgica Huachipato

Rhea-AI Summary

Harsco Corporation (NYSE: HSC) has signed a five-year contract renewal with Compañía Siderúrgica Huachipato (CSH), Chile's largest steelmaker, ensuring continuity in services valued at $28 million. This contract extension reinforces Harsco Environmental's longstanding relationship with CSH, where they have provided services for over 40 years. The scope includes melt shop cleaning, scrap handling, and slag sales among others. The partnership highlights Harsco's commitment to operational excellence and performance measurement.

Positive

• Five-year contract renewal with estimated revenue of $28 million.
• Continued partnership with CSH, indicating strong customer relationship.
• Provides a stable revenue stream and potential for operational efficiency.

Negative

• None.

Five-year renewal contract ensures continuity with Compañía Siderúrgica Huachipato (CSH)

CAMP HILL, Pa., Dec. 15, 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 extended its contract with Compañía Siderúrgica Huachipato (CSH), Chile's largest steelmaker.

Harsco Environmental signed a 5-year renewal contract with an estimated revenue of $28 million USD to provide services at the company's site in Chile. Through this renewal, Harsco Environmental will focus on maintaining operational excellence, integrating key performance indicators (KPIs), and reinforcing vital operational activities. The scope of work will remain the same as the previous contract between Harsco Environmental and CSH, with melt shop cleaning, wrecking, scrap chute loading, scrap handling, oxy cutting, scrap shearing, metallic recovery, and slag sales services.

Harsco Environmental has serviced CSH, the only integrated steel company in Chile, at its Talcahuano mill for more than 40 years. The steel mill currently produces 850 thousand tons of long steel products every year.

"Harsco Environmental is pleased to continue to provide services to CSH, a key steel producer and one of our valued customers in Chile," said Russ Mitchell, Vice President and Chief Operating Officer of Harsco Environmental. "This contract renewal demonstrates the strength of our long-standing relationship with CSH."

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 Compañía Siderúrgica Huachipato

Since 1950, Compañía Siderúrgica Huachipato (CSH) is the largest steelmaking complex in Chile. They are the only integrated steelmaking company in the country, and they manufacture products from basic raw materials guaranteeing high purity and quality. Compañía Siderúrgica Huachipato supplies mining, the metal mechanic industry, and construction with long steel products.

Investor Contact  David Martin 717.612.5628 damartin@harsco.com

Media Contact Jay Cooney 717.730.3683 jcooney@harsco.com

FAQ

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

Harsco's contract renewal with CSH secures a $28 million revenue stream over five years, highlighting operational continuity and strategic partnership.

How long has Harsco been servicing Compañía Siderúrgica Huachipato?

Harsco has been providing services to CSH for more than 40 years.

What services will Harsco provide to CSH under the new contract?

Harsco will provide services including melt shop cleaning, scrap handling, and slag sales.

What impact does the $28 million contract have on Harsco's financial outlook?

The $28 million contract contributes positively to Harsco's financial outlook by ensuring a stable revenue stream over the next five years.