HARRISBURG, Pa., May 11, 2011 (GLOBE NEWSWIRE) -- Worldwide industrial services and engineered products company Harsco Corporation (NYSE:HSC) announced today that its Harsco Rail unit has received a significant four-year extension of its contract services program in the UK under an award from Network Rail estimated at more than $50 million over its duration.
The award continues Harsco's role as the exclusive contract services provider to Network Rail for railway switch grinding throughout the UK rail system. Rail grinding re-profiles railhead contours for extended rail life and smoother operation, thus reducing fuel consumption, operating costs and noise. Grinding also corrects surface damage that could lead to rail fractures.
Under the UK program, Harsco Rail will operate and maintain a dedicated fleet of up to five switch grinding units that perform regular rail grinding of complex switch and crossing trackwork across the UK, making it among the largest of Harsco Rail's contract services programs worldwide. The division has been providing railway track maintenance services to Network Rail and its predecessor Railtrack since 1997. This latest award follows a recently-completed competitive bidding program in which Harsco Rail was assessed on quality, capability and cost. Rail grinding is part of a comprehensive range of services and equipment that Harsco Rail provides to customers worldwide for the repair, maintenance and new construction of railway track.
Harsco Corporation is one of the world's leading diversified industrial services and engineered products companies, serving key industries that play a fundamental role in global infrastructure development and economic growth. 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 www.harsco.com.
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