HARRISBURG, Pa., March 1, 2001 (PRIMEZONE) -- Addressing investment analysts at the 14th Annual Salomon Smith Barney Global Industrial Manufacturing Conference today in New York City, worldwide industrial services and products company Harsco Corporation (NYSE:HSC) reaffirmed the Company's objectives to deliver improving returns and enhanced shareholder value over the long term.
Harsco Chairman, President and CEO Derek C. Hathaway reviewed Harsco's strategic transformation over the past seven years, during which the Company has more than doubled its revenues from continuing operations from approximately $960 million to more than $2 billion, and grown its earnings per share from continuing operations at a compound annual growth rate of approximately 14 percent. "Harsco's continuing strategy for growth is based on strong market leadership on a global basis in targeted industrial services and products with a high proportion of recurring revenue streams," Hathaway said.
Joining Hathaway in detailing the Company's performance was Salvatore Fazzolari, Senior Vice President, Chief Financial Officer and Treasurer. Commenting on Harsco's 2001 financial objectives, Fazzolari said the Company is targeting 2001 revenue growth of 5 to 7 percent and earnings per share (EPS) growth of 10 percent or greater.
A Webcast of the presentation can be accessed through the Harsco Corporation web site at www.harsco.com.
DISCLOSURE NOTICE: The information contained in this announcement and in the Webcast noted above is accurate only as of March 1, 2001, and will not be updated as a result of new information or future events or developments.
Harsco notes that forward-looking statements in this announcement and Webcast involve risks and uncertainties. Actual results could differ materially from the expectations or assumptions expressed or implied herein. Factors that could affect actual results include changes in the worldwide business environment in which the Company operates; changes in governmental laws and regulations, including taxes; market and competitive changes, particularly in the steel producing, industrial gas, and infrastructure industries that the Company serves; and other 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's industrial services and products serve strategic worldwide industries, including infrastructure development, steel, railway transportation, gas and energy. The company recorded 2000 revenues in excess of $2 billion and employs more than 20,000 people in 38 countries. Additional information about Harsco can be found at www.harsco.com.