Tosyali Harsco Environmental Signs 10-Year Contract With Tosyali Holding to Provide Services at New Plant

Rhea-AI Summary

Harsco Corporation (HSC) has signed a 10-year contract with Tosyali Holding to provide slag management services at Toscelik's new plant in Sariseki, Turkey, with an estimated revenue of $210 million USD. Commissioning for the plant, which represents a $2.5 billion investment, starts in March 2023. The facility will utilize Quantum technology to enhance energy efficiency and achieve a capacity of 4 million tons. Harsco will manage the treatment of scrap and slag at the plant, further strengthening their partnership with Tosyali.

Positive

• 10-year contract with an estimated revenue of $210 million.
• Significant investment of $2.5 billion in new plant technology.
• Utilization of Quantum technology, which reduces energy consumption.

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• None.

Following signing of a new 10-year contract, Harsco Tosyali will provide slag management services at Toscelik's new plant in Sariseki, Turkey.

CAMP HILL, Pa., Dec. 13, 2022 (GLOBE NEWSWIRE) -- Harsco Corporation (NYSE: HSC), a global market leader providing environmental solutions for industrial and specialty by-products, announced today that Tosyali Harsco, Harsco's joint venture with Tosyali Holding, Turkey's leading flat steel and steel pipe producer, signed a 10-year contract with an estimated revenue of $210 million USD to provide services at the company's green field steel plant in Sariseki, Iskenderun.

Initial plant commissioning is set to begin at the new green field steel plant in Sariseki, in March 2023. The plant is a significant investment of nearly $2.5 billion USD value for Tosyali and will include a total 4 million ton capacity, two Quantum electric arc furnaces, slab and billet casting machines, a hot rolling mill, and long and flat product finishing lines. With the Sariseki facility, Tosyali will be the first steel producer in Turkey to use Quantum technology which reduces energy consumption.

Tosyali Harsco's scope of work at the new Sariseki plant will include the treatment of all scraps via sorting, shearing, lancing and cleaning processes, scrap handling and logistics to the melt shop, underfurnace cleaning, ladle slag handling and slag processing.

"I would like to congratulate our team for the outstanding performance that made this win possible," said Harsco Environmental Chief Operating Officer Russ Mitchell. "This expanded relationship is a testament to Tosyali's confidence in our ability to deliver services that advance both their business and environmental goals."

"With the Tosyali Sariseki investment, we are using state of the art technology in our furnaces, which are very sensitive to scrap. Tosyali Harsco's technology and experience will promote operational excellence," said Tosyali Holding Chief Executive Officer, Dr. Suhat Korkmaz. "With our plans for growth and common environmental goals, we hope to see great collaboration in the future."

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 Tosyali Harsco

Tosyali Harsco is a joint venture between Tosyali Holding, Turkey's global iron-steel leader, and global industrial company Harsco Corporation (NYSE: HSC) specialized in metal recovery services and slag sales. Tosyali Harsco operates steel mill services and slag sales on six separate sites in Turkey. Tosyali Harsco processes slag wastes generated during the steel production, providing metal recovery and turning the inert slag into by-products for use in different sectors. Tosyali Harsco has a processing capacity of more than 2,000,000 tons/year in Turkey. The company utilizes limited resources in the most efficient way with its "clean environmental awareness" and gives life to slag for a better world.

About Tosyali Holding

Tosyali Holding has created economic and social value for 70 years with nearly 30 facilities and approximately 15,000 employees in 3 continents. Tosyali is one of Turkey's global steel producer with an annual iron and steel production of nearly 6 million tons. According to the data of the World Steel Producers Association, it ranks 83rd among the world steel producers in 2021. Standing out with its product variety in the iron and steel industry, Tosyali meets the needs of many industries, from automotive to white appliances, from energy to construction, with its wide product range. Tosyali Holding, which has significant investments abroad, has started investment in Angola and Senegal following Montenegro and Algeria operations. One of the largest industrial facilities in Algeria, "Tosyali Algerie" draws attention as being Turkey's largest industrial investment abroad. Reinforcing its global business capability with foreign partnerships, Tosyali has been also carrying out successful business partnerships with Japanese Toyo Kohan and US Harsco companies in Turkey for many years. Tosyali Holding, which has made significant investment in sustainability, technology, and innovation, aims to be one of the leading companies in green steel production and to reduce its carbon footprint level by developing and by using the highest technologies; such as the world's largest DRI (Directly Reduced Iron) facility used in its production in Algeria and Quantum Furnace, which will be used for the first time in Turkey in its production facility in Sariseki, Turkey. Having international knowledge in the management and operation of industrial zones, Tosyali is planning port investments in Erzin, in addition to ongoing port operations in Iskenderun and Algeria. Tosyali Holding also continues its activities in the industrial zone management both in Turkey and in Africa. For more information, you can visit www.tosyaliholding.com.tr.

Investor Contact  David Martin 717.612.5628 damartin@harsco.com

Media Contact Jay Cooney 717.730.3683 jcooney@harsco.com

 

FAQ

What is Harsco Corporation's new contract about?

Harsco Corporation has signed a 10-year contract to provide slag management services at Tosyali Holding's new plant in Sariseki, Turkey.

How much revenue is Harsco expected to generate from the new contract?

The new contract is estimated to generate $210 million in revenue for Harsco.

When will the new steel plant in Sariseki begin operations?

Initial commissioning of the new steel plant is set to begin in March 2023.

What technology will be used at the new Tosyali facility?

The new facility will utilize Quantum technology to enhance energy efficiency.

What is the capacity of the new Tosyali steel plant?

The new Tosyali steel plant will have a capacity of 4 million tons.