HARRISBURG, Pa., April 18, 2006 (PRIMEZONE) -- Worldwide industrial services and products company Harsco Corporation (NYSE:HSC) announced today that its Patent Construction Systems access services division has secured new rental orders throughout North America totaling close to $5 million for its recently-introduced Pro-Shore shoring line, as market conditions in the non-residential construction industry continue to strengthen.
The new orders spotlight the growing market acceptance that has developed since Harsco announced last June its purchase of a substantial inventory of the new Pro-Shore equipment for mid- and high-rise concrete construction applications such as offices, hotels and condominiums. Shoring is used to provide support for concrete slabs, beams and other horizontal formwork during construction.
With market activity on the rise, the new equipment is hitting the pipeline at an ideal time. Bob Safier, Patent's Executive Vice President and General Manager, said, "Pro-Shore is proving to be a perfect complement to our other shoring lines for multi-story construction, all of which are at high levels of utilization in today's strong construction market. We expect Pro-Shore to continue to gain market acceptance and establish itself alongside our other lines as a solid contributor to our long-term growth."
Prominent among Patent's latest Pro-Shore orders is the new California Academy of Sciences museum now under construction in Golden Gate Park. Scheduled for completion in 2008, the architecturally-distinctive building will be the nation's first to combine an aquarium, planetarium, and natural history museum. Also included is the new Symantec office development project in Los Angeles County, a 550,000 square foot tower and 600,000 square foot parking garage, along with several hotel and apartment projects. Webcor Builders, one of California's largest construction firms and among the top 35 nationwide, is the general contractor for both the California Academy and Symantec projects. Patent has also received a contract to form the floors of a 30-story high-rise condominium in Hawaii, the first of several Pro-Shore projects that Patent expects to do there over the course of the next 12-18 months. The Pro-Shore product line is also making its first inroads into Canada, where it is being used in a number of Vancouver-area projects.
The new orders complement an improving outlook overall for Harsco's Access Services segment, which also includes the international SGB and Hunnebeck divisions. The Harsco Access Services group represents a global operating network that provides rental scaffolding, concrete forming, shoring and other access-related equipment and services to major non-residential construction and industrial maintenance projects throughout the world. The group operates through approximately 200 equipment rental, sale and service locations in 27 countries.
Harsco Corporation is a diversified, worldwide industrial services and products company with 2005 sales of $2.8 billion. The Company's four market-leading business groups provide mill services, access services, engineered products and services, and gas containment and control technologies to customers around the globe. Harsco employs approximately 21,000 people in 45 countries of operation. Additional information about Harsco, including its Patent Construction Systems division and Access Services segment, can be found at www.harsco.com.
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