Harsco Rail Signs Its First-Ever Contract With Hungarian Railways

Rhea-AI Summary

Harsco Corporation (NYSE: HSC) has secured a $10.3 million contract with MÁV FKG Kft-t, marking the first grinder order for Hungarian Railways. This contract includes the delivery of an EU 20-stone rail grinder, enhancing railway maintenance in Hungary, which joins countries like the UK and Germany using Harsco Rail products. The RGH20C2 grinder is technologically advanced and environmentally friendly, complying with European standards. Harsco Rail President Jeswant Gill emphasized the company’s role as a reliable partner for innovative railway solutions.

Positive

• Secured $10.3 million contract with MÁV FKG Kft-t, first grinder order from Hungarian Railways.
• Hungary joins other countries utilizing Harsco Rail grinders, enhancing market presence.
• The RGH20C2 grinder is compliant with European standards and operates sustainably with a Stage V engine.

Negative

• None.

• US $10.3 million order is first grinder contract for MÁV FKG Kft-t, which manages all maintenance and renovation of the national railway network
  
• Hungary joins the UK, Germany, Sweden and Italy, all of which have been using Harsco Rail grinders for years

CAMP HILL, Pa., July 24, 2020 (GLOBE NEWSWIRE) -- Harsco Corporation (NYSE: HSC) announced today that its Rail division has signed a $10.3 million contract with MÁV FKG Kft-t to provide it with an EU 20-stone rail grinder. This is the first-ever grinder order by Hungarian Railways, which joins a long list of countries that have been using the efficient and reliable Harsco Rail grinders for years.

Harsco Rail’s 20 stone grinder (RGH20C2), which removes surface defects on rails and re-profiles the rail head on both rails, is one of the most technologically advanced grinders working today. Fully compliant with all European standards, it easily grinds mainline and switches without any modifications, sustainably operates with an environmentally-friendly stage V engine, and has rail profile (transversal and longitudinal) measurement system and head checking measurement system installed.

“We’re very pleased to expand our partnership with Hungarian Railways,” said Harsco Rail President Jeswant Gill. “This award demonstrates Hungarian Railways’ confidence in Harsco Rail as a valued partner capable of delivering class-leading performance with our innovative and technologically advanced products.”

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, the United Kingdom, Germany, India, Brazil, China and Australia. Additional information can be found at www.harscorail.com.

About MÁV FKG Kft-t
MÁV FKG Kft-t is a subsidiary of Hungarians Infrastructure Manager MÁV Magyar Államvasutak Zrt. and is responsible for maintenance and renovation work of the entire national railway network within the framework of a long-term contract.

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51%; width:51%; min-width:51%;">Investor Contact	49%; width:49%; min-width:49%;">Media Contact
David Martin	Jay Cooney
717.612.5628	717.730.3683
damartin@harsco.com	jcooney@harsco.com

FAQ

What is the value of Harsco's contract with MÁV FKG Kft-t?

The contract with MÁV FKG Kft-t is valued at $10.3 million.

What type of equipment is Harsco providing to Hungarian Railways?

Harsco is providing an EU 20-stone rail grinder, the RGH20C2.

When was the contract with MÁV FKG Kft-t announced?

The contract was announced on July 24, 2020.

Which other countries use Harsco Rail grinders?

Other countries include the UK, Germany, Sweden, and Italy.

What technology does the RGH20C2 grinder feature?

The RGH20C2 grinder features a rail profile measurement system and is environmentally friendly.