| Analyst:arsco CEO transition shows need for focus Cumberland County-based Harsco Corp. We're focused on delivering value to our customers and shareholders. Harsco's shares, traded on the New York Stock Exchange under the symbol HSC never really recovered the way other companies did after 2008. 50 on Oct. In the 20th century, the company turned to making steel products, such as scaffolding and compressed gas cylinders. In the 1950s, the company diversified and started trading publicly as Harsco in 1956. Harsco diversified through acquisitions, including roofing mineral manufacturing; railway maintenance equipment; commercial, industrial and transportation construction services; and mill services that manage materials at metals factories. But it mostly needs better execution in several of its struggling units rather than an entire overhaul, he said. "If anything, the board has a say in that strategy," Hayes said. That's truer now that board member Henry W. There's a lot of speculation on the company's direction and what new leadership will do, but Harsco doesn't comment on that, company spokesman Ken Julian said. "Whoever the new CEO is, whether that's Henry or someone else, let them come in and get things going," he said. "I wonder what this changes?" said Doug Thomas, principle of Lancaster-based Jet Investment Research Inc. Since the recession, Harsco's business has slipped, especially in its infrastructure segment that supplies services and products to construction. Harsco's focus is too fragmented and there's little if no connection between the various business units, Thomas said. Some analysts think change at Harsco will be more subtle. "I don't know if there will be a huge change," said Tim Hayes, an analyst with Virginia-based investment research firm Davenport l, Harsco had a net loss of more than $9. However, you can't cost-cut your way to profitability, Thomas said. "It was the same song and dance over and over again," he said, "and I think the board just got tired of it. 30 on Dec. 28, 2007, according to Google Finance. It fell to a low of $17. Had Harsco maintained and grown its manufacturing businesses over the past decade, it might be stronger now, Thomas said. "Exiting the manufacturing business, or at least adopting the position that they didn't want to participate in it, really hurt the company," he said. Ten years ago, the strong dollar and other factors pushed manufacturing to foreign competition, meaning diversified companies such as Harsco needed a way to shore up future business, Hayes said. "That was their strategy," he said. One can't really fault the management for not being able to see the economic collapse and resulting resurgence in manufacturing, Hayes said. As the U. "All of that ultimately gets recognized by the investment market," Julian said. But that's not what we're focused on.
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Friday, 2 March 2012
Analyst:arsco CEO transition shows need for focus
