CAMP HILL, Pa., Oct. 10, 2012 (GLOBE NEWSWIRE) -- Global diversified industrial company Harsco Corporation (NYSE:HSC) announced today three new international orders within its Harsco Rail group totaling more than $85 million in projected revenues and further adding to the group's multi-year production backlog.
The orders include Harsco's first rail grinder sale to Italy, long a competitor stronghold, where specially-designed and built Harsco equipment will be used to support the construction and ongoing track maintenance of a new metro line being built in Milan. This latest configuration has been engineered specifically for the smaller passageways and tighter clearances commonly found throughout Europe, and can be operated in a modular configuration that gives the customer maximum flexibility and efficiency in its rail grinding operations, based on the number of grinding heads to be operated. The units will be built in Harsco Rail's U.S. production plants and are scheduled for delivery in 2014 and 2015. In the interim, Harsco will provide and operate a contract grinding service that will continue through delivery of the first production unit. Harsco's contract also includes long-term in-country maintenance support.
Harsco has also secured new orders in India for additional Harsco P-811 Track Renewal Trains (TRTs), a multi-functional track maintenance machine used to upgrade existing track with new rail and attachment fittings. The new units are scheduled for delivery by early 2014. They will join an existing fleet of seven TRTs already owned and operated by Indian Railways that have helped the railroad improve its track relaying programs with enhanced quality, on time performance and safety. Indian Railways is the world's fourth largest railway system, transporting more than 30 million passengers and three million tons of freight per day.Lastly, Harsco has also secured a multi-year extension and expansion of its ongoing contract services program in the UK under which Harsco operates and maintains a fleet of Harsco-built Stoneblowers on behalf of the owner, Network Rail. The latest order extends Harsco's services through mid-2015 with an option for two additional years. Developed as an alternative to traditional tamping methods for the restoration of track's vertical and lateral alignment, the Stoneblower pneumatically injects ballast under the tie to achieve track positioning to an accuracy of 1.0mm without disturbing the pre-existing compacted ballast.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV