HARRISBURG, Pa., April 14, 2004 (PRIMEZONE) -- Worldwide industrial services and products company Harsco Corporation (NYSE:HSC) announced today that its Harsco Track Technologies (HTT) division has secured three new orders for railway track maintenance equipment in Germany, Peru and the U.S. totaling approximately $15 million.
In Germany, HTT has secured its second order for a switch and crossing rail grinder from one of Germany's largest railway track construction companies, Eichholz GmbH. The unit, to be delivered in the first half of 2005, is used to grind and reprofile rail surfaces to maintain the correct wheel-to-rail contact interface and to remove surface defects such as corrugation that can lead to rail failure. The latest order follows Eichholz's receipt of its first HTT rail grinder, which is now entering in-country service.
In Peru, Harsco Track Technologies will be constructing a narrow gauge ballast tamping machine for Ferrocarril Transandino for use on its recently expanded and improved Cusco-Machu Picchu rail line, regarded as one of the world's most scenic railways and the only route to Peru's historic Machu Picchu ruins. The route is operated by PeruRail with daily passenger service. HTT ballast tampers are used to restore and maintain track smoothness and alignment by compacting the ballast directly under the ties, where the load is carried. This latest order continues a nearly 40-year equipment and parts relationship between HTT and Peru's railroad network. Delivery of the unit is expected in the first quarter of 2005.
The U.S. order calls for 12 specially-configured crane cars that Harsco Track Technologies will design and build for the New York City Transit Subway System, one of the most extensive rail transit networks in the world. Each car will feature a full-length, traversable one-ton crane equipped to transfer rail loads and other materials directly to and from individual work sites. Deliveries are expected to begin in the second half of 2005.
Announcing the orders, Harsco Chairman, President and CEO Derek C. Hathaway said, "Our successful transformation as a global enterprise is reflected in these simultaneous orders from customers in Europe, South America and the United States. International markets now generate close to 60 percent of Harsco Corporation's overall revenues and represent a key factor in our outlook for continued long-term growth."
Harsco Corporation is a $2.1 billion, diversified industrial services and engineered products company employing approximately 17,500 people in more than 40 countries of operation. Harsco's market-leading businesses provide mill services, access services, gas and fluid control products, and other infrastructure products and services to customers worldwide. Additional information about Harsco, including its Harsco Track Technologies division, can be found at www.harsco.com.
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