HARRISBURG, Pa., May 18, 2005 (PRIMEZONE) -- Speaking at the Davenport & Company Institutional Investor Retreat in Williamsburg, Virginia, senior management of worldwide industrial services and products company Harsco Corporation (NYSE:HSC) today reiterated the Company's continuing confidence in its strategic, broad-based global operating balance and increasing growth momentum, and reaffirmed its full-year EPS guidance of $3.10 to $3.15 per diluted share from continuing operations.
Commenting specifically on recent announcements of plans for modest reductions in domestic U.S. steel output by certain steel producers due in part to the early advancement of already-planned maintenance outages, the Company reminded its audience that approximately 80 percent of Harsco's mill services revenues are generated outside the United States. Steel production volumes remain especially strong in several other countries served by the Company, including Brazil, Australia, Eastern Europe, and China. Moreover, the Company noted that at a number of the mills in the U.S. as well as Europe where near-term production rollbacks were announced, Harsco has little or no involvement.
Harsco's presentation was led by Senior Vice President, Chief Financial Officer and Treasurer, Salvatore Fazzolari, and Vice President of Investor Relations and Credit, Eugene Truett. The Company cited its 34 percent improvement in first quarter diluted EPS from continuing operations and 15 percent increase in sales, and reaffirmed its strategies for increased capital investments this year to further support its industrial services growth, particularly in its global mill services business.
Harsco's four operating groups provide mill services, access services, engineered products and services, and gas containment and control technologies to major industrial customers worldwide. The Company operates from more than 400 locations in over 40 countries, and posted record sales of $2.5 billion in 2004, with approximately 60 percent generated from international operations.
Harsco's presentation is available via webcast through the Harsco Corporation website at www.harsco.com. Additional information about the Company and its operations can be found at www.harsco.com.
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