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Rail News: Maintenance Of Way

Harsco Track Technologies obtains multi-year rail grinding contract


Earlier this month, Harsco Corp. announced its Harsco Track Technologies (HTT) subsidiary won a rail grinding contract expected to generate revenue exceeding $70 million. The party awarding the contract wasn’t disclosed.

Under a multi-year contract that might approach 10 years, HTT will design, build, own and operate a dedicated fleet of rail grinders. To enter service in early 2006, the machines will be built in South Carolina, Minnesota and Michigan.

“This latest award directly reflects our strategies for increasing the services component of our business, consistent with Harsco's overall strategies for growth,” said HTT President Robert Newman in a prepared statement. “Compared with 2003, when service revenues were only one-fourth of HTT's total, we expect they will be close to 40 percent next year on higher revenues.”

HTT provides railway track maintenance equipment and services.

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More News from 8/25/2005