US: Harsco Corporation has reported that revenue from its Metals & Minerals division dropped by 19% year-on-year to US$1.11bn in 2015 from US$1.78bn in 2014. Overall company sales revenue across all businesses fell by 17% to US$1.72bn from US$2.07bn. The fall in sales was attributed to a decline primarily in the Metals & Minerals and Industrial divisions due to falling steels and related commodities demand, site exits and currency effects.
The company expects that the market will further deteriorate for its Metals & Minerals division in 2016 due to lower steel production, site exits and weaker commodities demand. To fight this trend the company is continuing to implement ‘Project Orion,’ it’s Metals & Minerals improvement plan.
