HARSCO'S
COMPOSITE MATERIALS UNIT
TO SUPPLY NGV FUEL TANKS TO VOLVO
HARRISBURG,
PA (February 21, 2002) . . . Worldwide industrial services and products
company Harsco Corporation (NYSE: HSC) announced today that its Structural
Composites Industries (SCI) unit has been selected by Volvo to produce
up to 5,000 lightweight composite fuel tanks this year for Volvo S80
series natural gas vehicle (NGV) automobiles, with the potential for
follow-on orders as the NGV market continues to grow. Terms were not
disclosed.
Announcing
the contract, SCI general manager Ron Eickelman said, "We are honored
to partner with Volvo's world-renowned commitment to vehicle safety
and performance. This award underscores our ability to design the safest,
most weight-efficient fuel tank solutions available today and further
enhances our leadership as a major NGV tank supplier to the automobile
and bus industries." Founded in 1971, SCI is the world's leading
producer of lightweight, filament-wound composite cylinders, pressure
vessels and structures for gas storage.
Natural
gas is seen as one of the best medium-term alternatives to gasoline
for motor vehicles, reducing smog emissions to near zero and carbon
dioxide emissions by about 20 percent, while retaining performance levels
comparable to gasoline-fueled vehicles. Worldwide NGV users exceed one
million vehicles, while US demand is also beginning to accelerate, with
over 100,000 vehicles already on the road and more than 1,300 natural
gas refueling stations in operation, according to industry estimates.
SCI's composite-material
technology is an ideal complement to NGV requirements. Because natural
gas is stored in gas form, a larger fuel tank is required to achieve
practical driving range. With a conventional tank, increasing size also
increases weight. SCI's filament-wound carbon fiber technology keeps
weight to a minimum, while offering high shock resistance and long life.
SCI is
one element of Harsco's combined strategic presence in the emerging
alternate fuel technology market. Harsco's Taylor-Wharton unit manufactures
a complementary line of stationary and portable liquefied natural gas
(LNG) pressure vessels that are ideal for a range of alternate fuel
technology applications, while Harsco's American Welding & Tank
(AWT) unit is North America's largest producer of propane tanks. This
multi-product scope makes Harsco ideally positioned to support the growth
in alternate fuel development, including hydrogen fuel cells. SCI, Taylor-Wharton
and AWT are all part of Harsco's Gas and Fluid Control Group, manufacturers
of the broadest range of gas and fluid control equipment in the world.
Harsco Corporation is a $2.1 billion diversified provider of market-leading
industrial services and products, serving the worldwide infrastructure
development, steel and metals, railway transportation, and gas and energy
industries. The company employs nearly 20,000 people in 40 countries
of operation. Additional information about Harsco, including its Gas
and Fluid Control Group, can be found at www.harsco.com.
