SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event)
August 16, 1994
Harsco Corporation
(Exact name of registrant as specified in its
charter)
Delaware
(State or other jurisdiction of incorporation)
1-3970
(Commission File Number)
23-1483991
(I.R.S. Employer Identification Number)
350 Poplar Church Road
Camp Hill, Pennsylvania
(Address of principal executive offices)
17001-8888
(Zip Code)
Registrant's telephone number, including area code:
(717) 763-7064
Item 5. Other Events.
Federal Excise Tax - Government Voluntarily Withdraws
Its Appeal of the Armed Services Board of Contract
Appeals Decision
As reported in the Company's previous filings, the
Armed Services Board of Contract Appeals ruled that
Harsco is entitled to a price adjustment to the five-
ton truck contract to reimburse Federal Excise Tax
(FET) paid on vehicles that were to be delivered
after October 1, 1988. In June 1994, the Government
appealed to the Court of Appeals for the Federal
Circuit. Effective August 16, 1994, the Government
voluntarily withdrew its appeal. As previously
reported, the Commercial Litigation Branch of the
Department of Justice is continuing to conduct its
civil investigation with respect to the facts
underlying this claim. The Government might attempt
to renew its motions to reopen the Armed Services
Board of Contract Appeals decision based upon the
results of the continuing investigation. Also, if
the Department of Justice files a separate civil
action against the Company as a result of this
investigation, it may seek various remedies including
forfeiture by the Company of its claims for
reimbursement of FET and related claims, treble
damages, and civil penalties.
Settlement of Various Five-Ton Truck Contract Issues
On August 26, 1994, the Company and the Government
signed a modification to the five-ton truck contract
resolving all outstanding contractual matters
concerning that agreement with certain limited
exceptions including FET related matters. The
contract modification includes resolution of the
Company's claims described in earlier Company filings
for contract changes, inadequate technical data
package, and delays and disruptions. The
modification provides for an increase of $12.5
million in the contract price. The price increase is
expected to result in pre-tax income to the Company
of approximately $11.7 million after related excise
tax and other associated costs.
Claim Against Certain Former Shareholders of
MultiServ International N.V.
On August 29, 1994, the Company filed a legal action
in the United States District Court for the Southern
District of New York seeking recovery of damages
arising from misrepresentations which the Company
claims were made to it in connection with its
purchase of the stock of MultiServ International N.V.
on August 31, 1993. The Complaint names as
defendants, Adrian H. H. Bowden; The Dyson-Kissner-
Moran Corporation and two of its affiliated companies
(MHC Holding Corp. and DKM-MLP Limited Partnership);
Adler & Shaykin Fund II, L.P.; and Rene Segui. The
Complaint seeks damages in an amount to be
determined.
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the
undersigned thereunto duly authorized.
HARSCO CORPORATION
(Registrant)
By: Derek C. Hathaway
Chairman, President &
Chief Executive Officer
Date: September 2, 1994
