Harsco Rail Executes Agreement to Exit Deutsche Bahn Engineered-to-Order Contract and Receives Initial Payment from Sale of Project Assets to GBM
Key Highlights
- ➤Enviri (NVRI) exits Deutsche Bahn contract, eliminating $13 million in performance bonds
- ➤Enviri repaid approximately $73 million in Deutsche Bahn project advances
- ➤GBM paid approximately $8 million; Enviri expects remaining payments of approximately $34 million
- ➤Enviri expects approximately $19 million net gain from GBM payment and DB agreement
- ➤Russell Hochman says contract exit removes operational and financial uncertainty
Expert Statements
Russell Hochman, President and CEO of Enviri
“Today's announcement marks the successful completion of our exit from the DB contract and another important milestone in Enviri's strategic transformation and value creation roadmap.”
Russell Hochman, President and CEO of Enviri
“We are grateful for DB’s partnership throughout the life of the contract and pleased that they will receive the next generation of machines to support their mission.”
Russell Hochman, President and CEO of Enviri
“This contract exit removes a significant source of operational and financial uncertainty, enhances our financial flexibility, and advances our commitment to de-risking the business.”
Russell Hochman, President and CEO of Enviri
“Most importantly, it allows Harsco Rail to expand its focus on its core maintenance-of-way business, where we have long demonstrated expertise and competitive advantages and see the greatest opportunities to create long-term value and more predictable returns for our shareholders.”
* Deutsche Bahn (DB) agreement fully releases Harsco Rail from its obligations under the ETO contract, including elimination of its $13 million in performance bonds * Harsco Rail received approximately $8 million in September from its former subcontractor General Atomics, Gleisbaumechanik Brandenburg GmbH (GBM), pursuant to an asset sales agreement related to the DB contract; Enviri expects to receive remaining payments of approximately $34 million in the coming quarters, including $15-18 million in 2026 * Enviri to record a net gain of approximately $19 million as a result of the GBM payment and with the execution of the DB agreement PHILADELPHIA, Nov. 04, 2026 (GLOBE NEWSWIRE) -- Enviri Corporation (NYSE: NVRI) today announced that it has entered into a definitive agreement with Deutsche Bahn (DB) that releases its Harsco Rail division from its engineered-to-order (ETO) contract for utility track vehicles.
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