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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,011.62 +29.03 0.17%
S&P 500 1,980.10 +1.19 0.06%
NASDAQ 4,458.7920 +13.8830 0.31%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs