Harsco Rail Executes Agreement to Exit Deutsche Bahn Engineered-to-Order Contract and Receives Initial Payment from Sale of Project Assets to GBM
Enviri said Harsco Rail reached an agreement with Deutsche Bahn that releases it from its utility-track-vehicle ETO contract obligations, and repaid about $73 million in project advances. Harsco Rail received about $8 million from GBM in September for project assets, with about $34 million in additional payments expected in coming quarters; Enviri expects to record an approximately $19 million net gain.
Why it matters — The agreement resolves Harsco Rail’s DB contract obligations, eliminates $13 million in performance bonds, and includes asset-sale payments and a reported net gain for Enviri.