Harsco's Access Services Group Sees Continuing Strong End-Market Demand with New Contracts in Dubai, Germany and the U.S. Totaling Close to $10 Million
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Press release date: January 25, 2008
HARRISBURG, Pa., Jan. 25, 2008 -- Worldwide industrial services company Harsco Corporation (NYSE:HSC) announced today that its Access Services business group will provide access-related engineering services and equipment to major construction projects in Dubai, Germany and the U.S. under new contracts totaling close to an estimated $10 million over their terms. The projects include a prestigious new racing and leisure city being built in Dubai that will span nearly three square miles of new facilities, as well as three major new power plants in the U.S.
Harsco's Huennebeck division has been selected by Arabtec Construction Company, the largest contracting company in the United Arab Emirates and a long-standing Huennebeck customer, to provide an extensive array of sale and rental formwork equipment for the construction of concrete slabs and joists for the new Meydan Racecourse complex in Dubai. The significant award reflects Harsco's well-established presence through its Huennebeck and SGB divisions as one of the Gulf region's largest and most complete scaffolding and formwork resources for major construction and infrastructure projects. The expansive new complex will include a state-of-the-art dirt and turf track and luxury-equipped grandstand along with a five star hotel, more than ten restaurants, and a racing museum. The two-year construction project, now underway, is expected to be completed in time for the 2010 Dubai World Cup, the world's richest horse race.
Huennebeck has also secured a new large-scale contract in its home country of Germany under which the division will provide a range of standard and customized rental formwork and scaffolding throughout 2008 for the construction of the new Centrum-Galerie, a major new retail shopping hub and underground parking complex being built in the Old Town section of Dresden.
In the U.S., Harsco's Patent division will support the construction of three major new power plants in Arkansas, Texas and Nebraska, supplying a range of rental scaffolding and concrete formwork throughout construction. Patent engineers have worked closely with the lead construction contractors to implement unique access engineering solutions that will enable the projects to reduce turnaround time and maximize efficiency. The three projects are scheduled for completion in 2009 through early 2012. The energy and power generation sector continues to be a significant strategic focus of Patent's services to the non-residential construction and infrastructure markets throughout North America and Latin America.
Commenting on the awards, Harsco President and Access Services Group CEO Geoffrey D. H. Butler said, "The notable multi-national diversity and scale of these substantial new contracts reaffirms the favorable demand that we continue to see on a global basis for our Harsco Access Services engineering and equipment solutions."
Harsco Corporation is one of the world's leading diversified industrial services companies, serving major customers in the non-residential construction, steel and metals, energy and railway industries. Harsco's common stock is a component of the S&P MidCap 400 Index and the Russell 1000 Index. Additional information about Harsco, including its Access Services business group, can be found at www.harsco.com.
Harsco Corporation Media: Kenneth D. Julian 717.730.3683 email@example.com