This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

L.B. Foster Announces Sale Of Railway Securement Business

PITTSBURGH, June 4, 2012 /PRNewswire/ -- Pittsburgh, Pennsylvania-based L.B. Foster Company (NASDAQ: FSTR) announced today the completion of the sale of its railway securement business to Holland, L.P.  Terms of the transaction were not disclosed. L.B. Foster acquired the shipping systems division as part of its acquisition of Portec Rail Products, Inc. in December 2010.

(Logo: http://photos.prnewswire.com/prnh/20101222/MM21387LOGO)

Commenting on the announcement, L.B. Foster President and Chief Executive Officer, Robert Bauer, stated, "The sale of the railway securement business will place it with a company that has a better strategic fit and can unlock the full potential of the business.  In the long run, this will be a benefit to the company's customers and its employees."  

"The purchase of L.B. Foster's Shipping Systems Division will complement and expand the capabilities of Holland's Transportation Technology Division in the areas of Load Securement and Product Protection," noted Len O'Kray, Group Vice President of Mechanical at Holland, L.P.  Mr. O' Kray further stated, "The combination of an experienced and enthusiastic work force, industry proven product offering along with a facility positioned for growth were all key considerations supporting our decision to purchase the business."

About L.B. Foster CompanyL.B. Foster Company is a leading manufacturer, fabricator and distributor of products and services for the rail, construction, energy and utility markets with locations in North America and Europe.  Please visit our Website: www.lbfoster.com 

Contact: David Sauder Vice President, Global Business DevelopmentPhone: 412.928.3417Email: dsauder@lbfoster.com

About Holland, L.P. Holland, L.P. headquartered in Crete, Illinois, is a diversified supplier of contract services and products for both the Mechanical & Maintenance of Way departments within the railroad and transportation industry. Products include Rail Welding Services, Track Testing Services, Product Protection (vehicle chock system, load snugger systems, door edge protection, cross bar liners), Load Securement (low profile locks, automatic twistlocks, inter-box connectors, chain assemblies), Rail Car Cleaning, Mobile Rail Car Repair (mobilize to the work), Rail Car Prepping Service, Transloading Services, Rail Equipment Design and Manufacturing, and Rail Facility Design and Construction.  Website:  www.hollandco.com

Contact:Len O'Kray Group Vice President of Mechanical Phone: 708-672-2300 Email: LOkray@hollandco.com

SOURCE L.B. Foster Company

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs