HARRISBURG, Pa., Aug. 10, 2009 (GLOBE NEWSWIRE) -- Worldwide industrial services company Harsco Corporation (NYSE:HSC) announced today its receipt of a new order worth an estimated $5 million from China's Chengdu Metro, an all-new rapid transit system being built to ease congestion in China's 10th largest city. The new system is projected to carry as many as 13 million passengers a day by 2020.
Harsco will construct a 20-stone rail grinder that will be used by Chengdu Metro to remove rail surface defects and reshape rail profiles for smoother travel at higher speeds, thus extending rail life while reducing fuel consumption and operating costs. The 20-stone designation refers to the number of grinding heads that can be individually aligned to follow precise rail contours. The machine is also equipped with fully integrated, on-board diagnostics to simplify maintenance and minimize downtime. Delivery is scheduled for late 2010.
China has emerged as Harsco Rail's largest international customer, underscored by a major order from China's Ministry of Railways for more than 40 mainline and switch & crossing rail grinders that has recently begun deliveries. This latest order is Harsco's first from Chengdu Metro and the Company's tenth from Chinese metro systems overall. The Company anticipates more bidding opportunities over the next several years and has developed a configuration specifically for the China metro market. Harsco Rail serves major railway systems, regional networks and high-speed transit systems throughout the world as a global leader for a wide range of state-of-the-art railway track maintenance equipment and services that are designed to improve the total cost of ownership for customers.
Harsco Corporation is a diversified industrial services company serving global industries that are fundamental to worldwide economic growth, including infrastructure, metals, railways and energy. Harsco's common stock is a component of the S&P MidCap 400 Index and the Russell 1000 Index. Additional information can be found at Harsco's new website at www.harsco.com.
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