Harsco Corporation (HSC) recently procured a number of international equipment orders from China in its Harsco Rail track maintenance group for an undisclosed amount.
Four separate metro rail systems in China have placed orders for 20-stone rail grinders. The equipment provided by Harsco will be deployed for smooth rail surfaces, with the aim of increasing train speeds, enhancing fuel efficiency and safety. The delivery of all the units is scheduled in the second half of 2013. With these orders, Harsco strengthens its position in China’s multi-city metro transit network.
Harsco Rail track maintenance group provides equipment and services used for maintaining, repairing and constructing railway track and its key competitive factors are quality, technology, customer service and value.
Additionally, the company has also received an order for a two-year track renewal project in North America. The order will involve the upgrade of 20 miles of track and replacement of over 45,000 ties. The project is expected to be completed by mid-2014,
In the last reported quarter, the Rail segment of Harsco generated revenues of $113 million versus $72 million the year-ago quarter. The hike was attributable to high equipment delivery in China, offset by lower volume for replacement parts and contract services.
Headquartered in Penn, Harsco is a diversified, multinational provider of market-leading industrial services and engineered products. The company serves global infrastructure, metals, minerals, rail, and industrial sectors. Harsco provides industrial mill services, gas control, and containment products, scaffolding services, and railway maintenance services.
Harsco operates in an intensely competitive landscape that includes big players such as POSCO (PKX) and Companhia Siderurgica Nacional (SID). Harsco currently has a Zacks Rank #5 (Strong Sell). One of its competitors, Commercials Metals Company (CMC) carries a Zacks Rank #2 (Buy).
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