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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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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) May 25, 1999
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HARSCO CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 1-3970 23-1483991
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification
Number)
Camp Hill, Pennsylvania 17001-8888
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (717) 763-7064
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ITEM 5. Other Events
On May 25, 1999, the Company announced that it reached an agreement with
the U.S. Government to settle a long-standing legal action in the U.S. Court of
Federal Claims concerning the Company's former BMY Division and its contract for
M109A2 military howitzers produced during the 1980s. Under the settlement
agreement, Harsco has paid the U.S. Government $11 million. Both parties agreed
to release all claims in the case. The settlement payment will be charged
against an existing reserve in the second quarter. This case has been previously
reported in the Notes to Consolidated Financial Statements of the Company under
"Commitments and Contingencies".
The agreement closes one of the remaining legal cases from the Company's
former defense unit. Harsco ceased direct management involvement in the defense
business in 1994 when it transferred the BMY Combat Systems Division into United
Defense, L.P., a joint venture with FMC Corporation. In 1997, Harsco exited the
defense industry by selling all of its interest in United Defense, L.P.
The Company notes that forward-looking statements in this announcement
involve risks and uncertainties. Actual results could differ materially from the
expectations or assumptions expressed or implied herein. Factors that could
affect actual results are listed from time to time in the Company's SEC reports.
The Company does not intend to update this information and disclaims any legal
liability to the contrary.
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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
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(Registrant)
Date: June 3, 1999 By: /S/ Salvatore D. Fazzolari
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Salvatore D. Fazzolari
Senior Vice President and
Chief Financial Officer
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