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Harsco pens 25-year joint venture with Chinese steel company

Harsco Corp. agreed to form a 25-year joint venture with
Shanxi Taigang Stainless Steel Company Ltd., one of the largest steel producers
in China.

Harsco Corp. agreed to form a 25-year joint venture with
Shanxi Taigang Stainless Steel Company Ltd., one of the largest steel producers
in China.

The new enterprise will be located in China and focus on treating and
reusing stainless steel leftovers, or slag, from Shanxi Taigang’s factories, said
Ken Julian, a Harsco spokesman.

Harsco will provide processing technology and management
ideas for the venture, as well as own the majority stake in the to-be-named
enterprise. The companies are still researching commercial applications for the
slag.

The companies last week signed a letter of intent for the
venture, but have not released additional details, including financials.

Shanxi Taigang, based in Taiyuan City, China,
manufacturers stainless and other forms of steel. It is a subsidiary of Taiyuan
Iron and Steel (Group) Company Ltd.

Harsco, based in Wormleysburg, Cumberland County,
provides industrial products and
services to companies in various sectors, including non-residential
construction, energy, steel and metals manufacturing and railways.

The company’s stocks are traded on the New York Stock Exchange under the ticker
symbol HSC.

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