Harsco mill services unit offsets infrastructure weakness
Oct 28, 2010 | 11:45 AM
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Harsco Corp. continues to feel the drain of weak demand in its infrastructure segment, albeit offset by steel mill services division results, which continue to meet expectations for the year.
The company's mill services segment, Harsco Metals, posted operating earnings of $19.4 million in the third quarter in contrast to a $4.4-million operating loss in the same period last year on a 13.8-percent increase in sales to $313.2 million from $275.1 million.
However, global steel production has tapered off from levels seen during the first half of the year and Harsco expects a further slowdown as the year comes to an end. "Steel production is expected to further moderate somewhat in the fourth quarter as the restocking of steel inventories by service centers and end-customers returns to more normal levels," the company said.....
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