Friday, engineered products company Harsco Corp. (HSC) Friday said its global Harsco Metals division has been awarded a 10-year, $100 million contract by Italy-based steel producer Lucchini Piombino to provide a range of on-site services.
Harsco will begin work in the second half of 2010 for on-site slag transport and slag processing at the Lucchini Piombino works, largely owned by OAO Severstal (SVST.L), in the western coast of Italy. Harsco is already supporting two Severstal mills in France.
Harsco indicated the Lucchini Piombino plant to manufacture a range of steel products for infrastructure and construction companies and a leading producer of high-quality wire rods for welding and other applications. The plant is also one of the few qualified European producers of 108 meter/354 foot-length rail for high speed and conventional railways.
HSC stock is currently trading at $31.78, down $1.00 or 3.05%, on a volume of 0.25 million shares on the NYSE. SVST.L stock is trading at £7.50, up £0.22, on the London Stock Exchange.
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