HARRISBURG, Pa., Aug. 9, 2004 (PRIMEZONE) -- Worldwide industrial services and products company Harsco Corporation (NYSE:HSC) has reported in its latest Form 10-Q Quarterly Report filing with the Securities and Exchange Commission that the Company, by letter dated August 2, 2004, has received formal notice that the U.S. Government has accepted a settlement proposal submitted by the Company which fully resolves a long-standing Federal Excise Tax (FET) dispute concerning U.S. Army five-ton trucks formerly produced by the Company. Pursuant to the settlement, the Company will receive a pre-tax cash refund of an estimated $12 million to $13 million in FET and interest, which represents approximately $0.20 per share from discontinued operations, after income taxes. Payment of the refund is expected to be received by the Company in the next four to six weeks.
Harsco Corporation is a diversified, worldwide industrial services and products company with annual sales in excess of $2 billion. Harsco's market-leading businesses provide mill services, access services, gas containment and control technologies, and engineered products and services to customers worldwide. The Company employs 18,000 people at over 400 locations in more than 40 countries of operation. Additional information about Harsco can be found at www.harsco.com.
The Harsco Corporation logo is available at: http://media.primezone.com/prs/single/?pkgid=361