HARRISBURG, Penn., Jan. 28, 2008 (PRIME NEWSWIRE) -- Worldwide industrial services company Harsco Corporation (NYSE:HSC) announced today that its Harsco Track Technologies (HTT) railway track maintenance division has been awarded a new contract by Israel Railways that further expands the division's growing international footprint and marks the beginning of a new multi-year contract services relationship. Terms of the contract were not disclosed.
The award calls for HTT to implement a coordinated rail grinding services program that will include operating personnel, equipment and maintenance, similar to its ongoing contract services for major railway customers in the U.S. and United Kingdom. Providing long-term contract services to leading railway customers continues to be a growing strategic focus of the division, in parallel with its continuing leadership as one of the world's foremost producers of railway track maintenance and new track construction equipment. HTT's rail grinding equipment and services re-profile railhead contours for extended rail life and smoother travel at higher speeds, thus reducing fuel consumption and operating costs while limiting traffic disruption.
The rail grinding program is part of a substantial national railway development and modernization plan whose goal is to create by 2010 a first-class rail network for both passengers and goods that will more than double its current volumes. Harsco's initial assignment will commence in April 2008 following the arrival of HTT's rail grinding equipment from the United States, with further task orders expected as additional track locations are scheduled.
Harsco Corporation is one of the world's leading diversified industrial services companies, serving major customers in the non-residential construction, steel and metals, energy and railway industries. Harsco's common stock is a component of the S&P MidCap 400 Index and the Russell 1000 Index. Additional information about Harsco, including its Harsco Track Technologies division, can be found at www.harsco.com.
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