Pennsylvania Business Report
Harsco Rail exits engineered-to-order contract
Harsco Rail, a division of Philadelphia-based Enviri Corporation, recently entered into a definitive agreement that will release it from its engineered-to-order contract with Deutsche Bahn (DB), a German rail transportation company, for utility track vehicles. Under the terms of the agreement, DB will release $13 million in performance bonds, the full amount supporting the project, along with approximately $49 million in cash. Harsco Rail already has repaid approximately $73 million in advanc...
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