Harsco Enters $247 Million Contract With HBIS Laoting Steel

23 January 2019

Harsco Corporation announced today that its Metals & Minerals division has signed a $247 million contract with HBIS Laoting Steel, a subsidiary of the HBIS Group and one of the leading steel producers in China. The 15-year agreement further expands Harsco’s partnership with HBIS; the Company has provided steel mill services to Tangshan Steel Group – another HBIS subsidiary – for more than a decade.

Under the expanded agreement, Harsco will deliver a suite of onsite mill services, including under furnace cleaning; slag transport and metal recovery; scrap and tundish cutting; and desulph and ladle slag processing. The Company also will partner with Chinese design institutes to design and build metal recovery and slag processing plants when the steel mill is put into operation. Upon completion, the Harsco-designed system will be able to process the 1.42m tons of slag that will be generated by HBIS Laoting Steel every year. Additionally, Harsco will apply ‘waste to resources’ technologies to transform slag into products for construction and other purposes.

“We are delighted to build on our long-standing relationship with HBIS Group,” said Harsco Metals & Minerals Chief Operating Officer Russ Mitchell. “This agreement extends our partnership with a very valued customer and, at the same time, further extends our reach in the highly-competitive Chinese steel market.”

HBIS Group Profile

As one of the world’s largest steelmakers, HBIS Group Co., Ltd ("HBIS") is devoted to providing various industries with the most valuable steel material and service solutions, aiming to become one of the most competitive steel enterprises in the world. HBIS ranks No. 1 in China’s home appliance, No. 2 in automotive steel, and is the leading steel supplier for nuclear power, marine engineering, bridges and construction. The group received a “highly competitive” rating — the highest rating given in the Report on the Comprehensive Competitiveness of Chinese Iron and Steel Enterprises. Currently, HBIS serves as Vice President of World Steel Association and (rotating) President of the China Iron and Steel Association.

About Harsco Corporation

Harsco Corporation is a diversified industrial company providing a range of onsite services and engineered products to the global steel, energy and railway sectors. 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.

Harsco’s Metals & Minerals division is the largest and most comprehensive provider of onsite material processing and environmental services to the global metals industry, with operations at over 140 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-m.com to know more.

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Source: globenewswire.com