HARRISBURG, Pa., Sept. 11, 2008 - Worldwide industrial services company Harsco Corporation announced today it has secured nine new contracts in Germany totaling approximately $5 million to provide rental formwork and related access services to several large construction projects in Germany's resurgent infrastructure sector.
Among the projects is a new headquarters building for E.ON Ruhrgas AG, one of Germany's leading power suppliers. The modern new headquarters featuring two elliptical 15-story towers is being built in the Essen/Rhine Ruhr region, one of Germany's prime industrial areas. Harsco will supply nearly 65,000 square feet of rental formwork through next year for the on-site concrete construction of the building's floor and ceiling slabs and walls. When completed in late 2009, the new building will house close to 2,000 employees.
Harsco will also supply rental formwork for the construction of a new lime works plant being built in Steeden, an area that is home to several large limestone quarries. Harsco's contract covers the first phase of construction and follow-on phases are already in negotiation. Other major contracts include rental formwork supply to a new waste incineration and processing plant to be built in Bernburg/Sachsen-Anhalt, a new hotel in Berlin, the expansion of a steam power station in Karlsruhe/Baden-Wurttemberg, and a new engineering plant also being built in the same region. Harsco will also supply rental formwork for the construction of a new academic building on the campus of the University of Applied Sciences in Gelsenkirchen and for a new glass manufacturing plant being built in Magdeburg, in Germany's northeast region.
"Our acquisition of the Germany-based Huennebeck division in November 2005 has significantly increased our profile in the growing worldwide market for high quality formwork on large-scale construction sites," said Harsco Chairman and CEO Salvatore D. Fazzolari. "We have made further expansion into the infrastructure sector a particular focus of our efforts, and it is paying off with attractive long-term projects."
Current industry forecasts project a compound annual growth rate of between 3.2 percent and 4.6 percent within Germany's non-residential construction sector through 2016.
Harsco Corporation is one of the world's leading diversified industrial services companies, serving key industries that play a fundamental role in worldwide economic growth and development, including infrastructure, metals and railways. The Company employs approximately 23,000 people in 50 countries of operation and recorded 2007 sales of approximately $3.7 billion. Harsco's common stock is a component of the S&P MidCap 400 Index and the Russell 1000 Index. Additional information can be found at www.harsco.com.
Kenneth D. Julian