L.B. Foster Announces Agreement to Acquire Ball Winch Pipeline Services
Acquisition Expands Company's Tubular Products Pipe Coating Capabilities
PITTSBURGH, Nov. 8, 2013 /PRNewswire/ -- Pittsburgh, PA-based L.B. Foster Company (NASDAQ: FSTR) today announced it has acquired Ball Winch Pipeline Services, LLC., a privately-owned company that applies specialty pipe coatings and provides field services for the oil and gas, mining, water and waste water industries. Ball Winch's unique position as a custom coater of specialty fittings and field connections brings new growth to L.B. Foster's existing coating capabilities.
The acquisition combines two organizations with rich histories of successfully delivering pipe coatings to the energy and utility industries. "Ball Winch complements and expands our business opportunities with custom coating and field applied coating services," said Robert Bauer, L.B. Foster President and Chief Executive Officer. "We welcome the Ball Winch team and look forward to their contribution to L.B. Foster."
The Willis, Texas Company has developed and continues to maintain a strong presence in custom pipe coating for in-service replacement and new construction. The Ball Winch organization will become a key component of L.B. Foster's Tubular Products group led by Vice President, Merry Brumbaugh. "Ball Winch is a leading pipe coating applicator with a proven reputation for satisfying the most demanding requirements for custom coated pipe or specialty coatings," said Brumbaugh.
Both companies have built reputations for excellence in manufacturing, product quality and workplace safety. "There is great synergy between our technologies, experienced management and corporate strategies," noted Tom Ball, Co-Owner, Ball Winch. "We share L.B. Foster's vision of delivering quality and value to our customers and providing a safe work environment for our employees."
Ball Winch was advised by Tulsa, OK based ClearRidge, LLC on the acquisition.
About Ball Winch
Established in 2005, Ball Winch Pipeline Services, LLC, provides custom coating services for steel pipe and fabricated steel products for the energy and utility industries. For more information, visit www.ballwinch.com
About L.B. Foster Company
L.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
L.B. Foster Company Media Contact:
Jake Fuellhart, Marketing Communications Manager, Corporate Marketing
SOURCE L.B. Foster Company
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