HARRISBURG, Pa., Aug. 2, 2010 (GLOBE NEWSWIRE) -- Worldwide industrial services and engineered products company Harsco Corporation (NYSE:HSC) announced today new orders for its engineered formwork systems totaling close to $1.5 million as the historic city of Venice, Italy enters the second phase of construction of one of the world's great engineering feats, a network of hinged gates designed to protect the city from future flooding.
The latest orders, which include equipment rentals as well as sale, continue Harsco's role as one of the principal formwork specialists on the project, supporting the construction of the massive concrete bases, or caissons, to which the hinged gates will attach. Harsco is one of the world's leading providers of engineered rental formwork and access systems for major infrastructure construction projects such as airports, high-rise office towers, expressways and bridges.
"We welcome this next phase of construction and the continuing confidence it demonstrates in Harsco's engineering and equipment solutions," said Ivor Harrington, CEO of the Harsco Infrastructure business group. "While the overall construction markets continue to be severely constrained, the solving of complex construction challenges with innovation and insight remains a Harsco specialty that will help position us well for the inevitable market recovery."
The project's name of Mose – Italian for Moses – is both an allusion to the biblical story of how Moses parted the waves of the Red Sea and also an acronym for the project's official name, Modulo Sperimentale Elettromeccanico. It envisions the construction of more than 70 hinged gates positioned at the three inlets that connect Venice to the Adriatic Sea. The gates will remain closed below the surface until storms or rising waters are forecast, at which point compressed air is pumped into the hollow panels causing them to rise up on their hinges to form a barrier to the incoming waves. Phase I of the Project Mose construction effort is expected to continue through the end of this year, while Phase II is scheduled to begin this September. The new barrier system is expected to become fully operational in 2014.
Harsco Corporation provides essential services and products to major industries that are fundamental to worldwide economic growth, including infrastructure, metals, railways and energy. Harsco's common stock is a component of the S&P MidCap 400 Index and the Russell 1000 Index. Additional information can be found at http://www.harsco.com/">www.harsco.com.
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