Harsco’s Industrial Segment captures significant U.S. Pipeline Order
June 28, 2016
CAMP HILL, PA (June 28, 2016) . . . Global industrial company Harsco Corporation (NYSE: HSC) announced today a significant new order for gas compression coolers produced by its Harsco Industrial Air-X-Changers/Hammco business. The order, which calls for 12 coolers to be delivered by the end of 2016, will support a new gas-fired compressor station to be constructed along a 66-mile pipeline in southeast Texas. The 36-inch diameter pipeline will provide up to 1.54 billion cubic feet per day of natural gas to a large LNG facility in the Gulf. Terms of the order were not disclosed.
Harsco’s units will be installed to cool gas at the compressor station facility, which compresses the gas in order to move through the pipeline system. The massive Harsco cooling units, to be engineered and manufactured at the Company’s newly consolidated 550,000 sq. ft. production plant in Tulsa, Oklahoma, will each stand 16 feet wide and 55 feet long, equipped with 15 foot diameter fans.
This is the fifth large midstream compression project for Harsco within the last 24 months, totaling approximately $30 million in projected revenues. While other sectors have been buffeted by the decline in energy prices, this market niche of long-term, infrastructure-related projects continues to be an attractive focus for Harsco’s wide-ranging equipment, complementing both the Air-X-Changers and Hammco product lines. “This latest win continues our 60-year history as the preferred supplier for compression cooling solutions for natural gas infrastructure projects throughout North America,” said Scott Gerson, President of Harsco’s Industrial segment. “Even thoughenergy markets remain under pressure, these key projects continue, as they will be vital to the market’s eventual recovery.”
Harsco Industrial Air-X-Changers has been a leading manufacturer of air-cooled heat exchangers for gas compression and other industries since 1954, and has operated as a unit of Harsco Corporation since 1976. In 2014, Harsco acquired Hammco Corporation, a manufacturer of air coolers used in a variety of processing, compression and refining applications. Harsco Industrial Air-X-Changers / Hammco products – available in a full range of models, types and configurations and used around the world – are used in natural gas compression, gas processing, refining, turbine lube oil cooling systems, and other applications. In addition, the division manufactures cooler replacement parts for any make or model of gas compression cooler in service and also offers a full range of on-site field services. For more information, go to www.harscoaxc.com.
Harsco Corporation is a diversified industrial company providing a range of onsite services and engineered products to the global steel, energy and railway sectors. Harsco’s common stock is a component of the S&P SmallCap 600 Index and the Russell 2000 Index. Additional information can be found at www.harsco.com.
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