Pact with Deutsche Bahn represents new business relationship for Harsco Rail
CAMP HILL, PA – (September 16, 2019) – Harsco Corporation (NYSE: HSC) announced today that its Rail division has secured a major order with Europe’s largest railway infrastructure manager DB Netz AG. The agreement – the first ever between Harsco Rail and DB Netz – calls for the development of as many as 56 catenary intervention and maintenance vehicles for the German railway system. The seven-year contract has a total value of $290 million. The initial order quantity confirmed is 16 vehicles with delivery starting from 2022. It is expected that seven more machines will follow two years later.
The DB Netz order comes as the German firm looks to replace its aging fleet with environmentally-friendly, state-of-the-art machinery that is compatible with changes in application and track requirements. Harsco’s diesel-electric Utility Track Vehicles (UTVs) are the most innovative on the market, offering features for pure electric traction via overhead catenary, which meets a critical customer need as more track becomes electrified in DB’s served network. These vehicles also offer innovative technologies that reduce both emission and noise. They can run up to two hours in work mode without any power supply using just a battery and feature a trendsetting air conditioning unit cooled by a natural refrigerant. These features ensure that Harsco’s customer will always have a top of the line vehicle – on the date of delivery and throughout the machine’s lifecycle.
“Harsco Rail has significantly invested in Europe to develop market-leading technologies with superior execution capability and to establish a robust supply chain to offer the most innovative Utility Track Vehicles in the market today,” said Harsco Rail President Jeswant Gill. “We appreciate Deutsche Bahn’s confidence in Harsco Rail as a trusted partner to provide state-of-the-art vehicles and are excited about the opportunity to further our growth ambitions.”
About Harsco Corporation
Harsco Corporation is a global market leader providing environmental solutions for industrial and specialty waste streams, and innovative technologies for the rail and energy sectors. Based in Camp Hill, PA, the 11,000-employee company operates in more than 30 countries. Harsco’s common stock is a component of the S&P SmallCap 600 Index and the Russell 2000 Index. Additional information can be found at www.harsco.com.
About Harsco Rail
Harsco Rail, a worldwide operating segment of Harsco Corporation, is a technological and innovative global supplier of railway track maintenance products and services. Harsco Rail provides expert engineering, vehicles and equipment, innovative technology, safety technology, dedicated parts and services, contracting services and quality maintenance from nine main locations in the United States, United Kingdom, Germany, India, Brazil, China and Australia. Additional information can be found at www.harscorail.com.