In its concerted effort to improve efficiency in metal
) recently entered into a new multi-year contract spanning 15
years with Jindal Stainless Limited -- the largest steel producer
Jindal Stainless Limited is a producer of stainless steel
products that includes Ferro Alloys, Stainless Steel Slabs &
Blooms, Hot Rolled Coils, Plates, Cold Rolled Coils and
specialty. In Jan 2012, Harsco also secured a similar multi-year
contract worth $225 million from JSW Steel to provide onsite
services to India's largest private sector steel producer.
The contract worth $100 million is a win-win situation for both
the companies. With this contract, Harsco will partner Jindal
Stainless for material handling to serve the rapidly developing
steel sector in India, thereby augmenting its revenue. Harsco is
expected to render its services in the second half of this year
and would primarily help in recovering metal from stainless steel
The deal would strengthen the long-standing mutual business
relationship between the companies. In addition, Harsco will
benefit from expansion into emerging markets like India and
establishing itself as a premier industrial company offering
dedicated services to infrastructure-oriented sectors like steel.
On the other hand, without making any additional investments,
Jindal Stainless will reap the benefits from an industry leader
like Harsco to improve its metal recovery processes, and thereby
improve its profitability.
Headquartered in Penn, Harsco is a diversified, multinational
provider of market-leading industrial services and engineered
products. The company serves global infrastructure, metals,
minerals, rail, and industrial sectors.
Harsco operates in an intensely competitive landscape that
includes big players such as
Companhia Siderurgica Nacional
). Harsco currently has a Zacks Rank #5 (Strong Sell). One of its
Commercials Metals Company
) carries a Zacks Rank #2 (Buy).
COMMERCIAL METL (CMC): Free Stock Analysis
HARSCO CORP (HSC): Free Stock Analysis Report
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