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Harsco's Management Presents At Jefferies 2012 Global Industrial And A&D Conference (Transcript)

Second largest group the Harsco infrastructure group, this service is the global civil infrastructure industry as well as the industrial maintenance industry, and non-residential construction. Once again global, throughout the globe, we provide highly engineered hybrid forming. We provide scaffolding, shoring, which is a form of concrete forming as well but also services such as erection and dismantling services, project management and most importantly, upfront engineering for the major complex civil infrastructure projects.

The third group is our rail group. Rail group, we provide comprehensive line of rail equipment, rail track and maintenance equipment throughout the globe. And we also provide repair parts for that equipment as well as services throughout the globe.

Industrial group is energy focused group providing air-cooled heat exchangers to the natural gas industry as an example. Grating, industrial grating provided for such applications as offshore drilling platforms, and lastly, we provide industrial boilers and heaters to the non-residential construction industry and to commercial and educational institutions.

All these products as you can see are related to the global infrastructure. So you can see as we maintain the global infrastructure and help grow the global infrastructure, so as population grows for example, our services and products will be in greater demand.

Little bit more about the metals and minerals business, as most of you probably know right now the end market conditions are somewhat challenging. But we are doing a lot to improve this business. Some evidence of the improvements can be seen in the operating margins which we achieved in second quarter which were 8.7%, higher than they were last year, and the highest actually since the third quarter of 2010. So we are getting some leverage from lot of the actions we have taken over the last two or three years. But some of those ongoing strategies that helped us with the improved margins include exiting lower return contracts whereby we are not making what we consider as satisfactory returns, and focusing more on environmental solution type projects which should give us the higher returns.

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