L.B. Foster Announces Sale of Precise Structural Products
PITTSBURGH, Sept. 4, 2012 /PRNewswire/ -- L.B. Foster Company (NASDAQ: FSTR) announced today the completion of the sale of Precise Structural Products to Cianbro Fabrication and Coating Corporation. Terms of the transaction were not disclosed. Precise Structural Products is engaged in manufacturing fabricated steel products for the highway, bridge, transit and construction markets and providing custom fabrication and related services including welding, sawing, cambering, blasting and painting.
Commenting on the announcement, L.B. Foster Senior Vice President, Construction Products, Don Foster, stated, "We are pleased for our employees, customers and community, that Cianbro Fabrication and Coating Corporation, a respected name in the industry will be operating Precise in the future. This sale coupled with our 2010 purchase of the Interlocking Deck System positively addresses the L.B. Foster Company Fabricated Bridge Products portfolio strategy. This will allow us to concentrate on our industry leading position in the Bridge market with our fabricated steel grid decking solutions."
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 Contacts:
David Sauder, Vice President, Global Business Development
Jake Fuellhart, Marketing Communications Manager, L.B. Foster Corporate Marketing
About Cianbro Fabrication and Coating Corporation
Cianbro Fabrication and Coating Corporation, headquartered in Pittsfield, Maine, self-performs Civil, Structural, Mechanical, Electrical, Instrumentation, Fabrication, and Coating, in twelve different markets, throughout the United States. Performing services under various contractual methods and in several different capacities, Cianbro has experience in Construction Management, Design-Build, and Engineer Procure Construct (EPC), in addition to Conventional Design-Bid-Build. Cianbro continues to be selected as a Prime/General Contractor and Joint Venture/Partner, but has also served as a Construction Manager, Subcontractor, Fabrication Supplier, and Consultant for construction services. Website: www.cianbro.com
SOURCE L.B. Foster Company