HARRISBURG, Pa., Feb. 27, 2002 (PRIMEZONE) -- Addressing investment analysts at the 15th Annual Salomon Smith Barney Global Industrial Manufacturing Conference in New York City, worldwide industrial services and products provider Harsco Corporation (NYSE:HSC) said it believes the Company is well-positioned to take advantage of an improved macro-economic environment in the worldwide markets it serves.
Harsco Chairman, President and CEO Derek C. Hathaway reviewed Harsco's strategic transformation into a leading multinational industrial services organization, and discussed the Company's emphasis on generating and increasing its free cash flow, its commitment to a sound balance sheet, and its expectations for improved operating performance in 2002. "Harsco's global outlook is underpinned in large part by revenues derived from specialized industrial projects that tend to proceed in good as well as recessionary times. The anticipated improved economic environment augurs well for our outlook."
Joining Mr. Hathaway in detailing the Company's performance was Salvatore Fazzolari, Senior Vice President, Chief Financial Officer and Treasurer. Commenting on Harsco's financial objectives, Mr. Fazzolari said the Company has targeted paying down an additional $100 million of debt in 2002 and achieving earnings per share (EPS) growth of 10-12 percent for the year.
The Harsco presentation is available as a webcast through the Harsco Corporation web site at www.harsco.com. Listeners can also access the webcast at http://www.veracast.com/ssb/2002/industrial-manufacturing/61212282.cfm. There is no charge to access this event.
Forward-Looking Statements
The nature of Harsco's operations and the many countries in which it operates subject it to changing economic, competitive, regulatory, and technological conditions, risks, and uncertainties. In accordance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, Harsco provides the following cautionary remarks regarding important factors which, among others, could cause future results to differ materially from the forward-looking statements, expectations and assumptions expressed or implied herein.
Factors which could affect actual results include, but are not limited to: (1) changes in the worldwide business environment in which the Company operates, including general economic conditions, particularly in the mill service, infrastructure and industrial gas markets; (2) changes in currency exchange rates, interest rates, and capital costs; (3) changes in governmental laws and regulations, including taxes; (4) market and competitive changes, including pricing pressures, market demand and acceptance for new products, services, and technologies; (5) effects of unstable governments and business conditions in emerging economies; and (6) other risk factors listed from time to time in the Company's SEC reports. The Company does not intend to update this information and disclaims any legal liability to the contrary.
Harsco Corporation is a $2.1 billion worldwide industrial services and products company serving the infrastructure development, steel, railway transportation, and gas and energy industries. The company employs approximately 18,700 people in 40 countries of operation. Additional information about Harsco can be found at www.harsco.com.