Harsco Secures Its Second $100 Million+ Railway Maintenance Equipment Contract In Switzerland

CAMP HILL, Pa., July 1, 2014 (GLOBE NEWSWIRE) -- Diversified global industrial company Harsco Corporation (NYSE:HSC) announced today its second major railway track and infrastructure maintenance equipment award from SBB, the federal railway system of Switzerland. The award, valued at more than $100 million, calls for 59 high-speed catenary vehicles that will be used for the construction, maintenance and repair of overhead catenary systems throughout Switzerland. Deliveries will begin in 2016 and continue through 2017.

The award comes as a follow-on option to Harsco's previously awarded $100 million-plus contract for specialty utility vehicles that will be used to support rail operations in the new Gotthard and Ceneri Base Tunnels, part of the historic Swiss AlpTransit project to increase rail capacity across the region. With its option award, SBB will be able to realize numerous synergies in the areas of technology, project management, training, spare parts stocks and maintenance.

"We are delighted to receive this second, significant award from the Swiss railway," said Harsco Interim CEO David Everitt. "Together, these two contracts establish a solid foundation to a growing Harsco Rail presence in Europe, with vehicles designed and built to European specifications and standards and utilizing a strong network of established European supply partners." 

"This second order underpins our division's large project pipeline and strengthens the partnerships we are developing as a local European railway supplier," said Scott Jacoby, President of Harsco Rail. "By exercising their option for additional orders, SBB is supporting our tailored business strategy to provide best-in-class solutions, making us a valuable partner for customers throughout the continent and across the globe."

About Harsco Corporation

Harsco Corporation serves major industries that are fundamental to worldwide growth and development, including railways, metals and energy. Harsco's common stock is a component of the S&P MidCap 400 Index and the Russell 2000 Index. Additional information can be found at www.harsco.com .
CONTACT: Investor Contact         David Martin         717.612.5628         damartin@harsco.com                  Media Contact         Kenneth Julian         717.730.3683         kjulian@harsco.com

Harsco Corporation Company logo

If you liked this article you might like

Q4 Preview: What Analysts Expect From the World Economy, the U.S. Election, and More This Quarter

The Difference Between Trading and Investing, in 2 Stocks

Harsco Shares Can Double From Here; Earnings Are Positive

Harsco (HSC) Stock: Weak On High Volume Today

What on Earth Happened While I Was Away? A Lot