L.B. Foster Gets $20.5M Supply Contract
Stock quotes in this article:
GNA
PITTSBURGH (AP) L.B. Foster Co. said Friday it received a $20.5 million contract from the Panama Canal Authority to supply sheet piling to steel producer, Gerdau AmeriSteel Corp.
The sheet piling is being used as part of the construction of the Panama Canal Expansion. A bidder will be chosen later this year to install the piling for the canal. The canal's expansion will allow ultra-large intermodal ships traveling from Asia to continue by sea to the U.S. East coast, rather than unloading containers on the West coast and continuing travel by rail or truck across the United States. Shares of L.B. Foster added 8 cents to $31.99 in afternoon trading, while shares of Gerdau AmeriSteel fell 12 cents to $8.38.- Loading Comments...
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