28.04.2011

Improvement at Harsco Infrastructure

Harsco Infrastructure which incorporates SGB, Hünnebeck and Patent scaffold has seen a four percent rise in first quarter revenues.

Revenues were $11 million higher than in the same quarter last year at $262 million, $5 million of this is down the currency fluctuations and the rest from improved utilisation. The division posted a loss of $17.5 million compared to a loss of $19.3 million in the first quarter 2010.

The company statement said: “As this segment continues to successfully implement the major restructuring plan announced last year, the company expects to achieve its anticipated savings of approximately $40 million in 2011, and full annualized savings of $60 million starting in 2012.”

“Average rental rates and utilisation rates appear to have bottomed out sequentially. Nevertheless, uncertainties and challenges remain in major end-markets, particularly in the U.S., U.K. and Western Europe. The prospects for the full year should be clearer at the end of the second quarter”.