Harsco enters relationship with China’s largest stainless producer

Harsco Corporation announced it has signed a Letter of Intent with China’s largest stainless steel producer to develop a new working relationship for the treatment and utilization of stainless and carbon steel slag in China.

Harsco’s Letter of Intent with Shanxi Taigang Stainless Steel Company, a subsidiary of TISCO, is the initial step in exploring a new joint venture relationship that will introduce new environmental solutions for the utilization of the mill’s residual slag in commercial applications. The relationship, described as a future role model for the stainless steel industry in China, was announced jointly by Liu Fuxing, president of Taigang Stainless, and Salvatore D. Fazzolari, chairman and CEO of Harsco Corporation.

The new relationship will mark Harsco’s first extension into China of its specialized minerals processing and utilization technologies. TISCO has an annual production capacity of ten million tons of formed steel, including three million tons of stainless steel, marking it as China’s largest stainless steel enterprise and an industry leader in steel technology and development.

Harsco expects to hold the majority stake under the proposed 25-year joint venture terms.