L.B. Foster Completes Merger of Foster Thomas Company into Portec Rail Products, Inc. |
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Foster, L. B. Co.
415 Holiday Dr., P.O. Box 2806
Pittsburgh, PA, 15220
USA
Press release date: December 29, 2010
PITTSBURGH, Dec. 29, 2010 - L.B. Foster Company ("L.B. Foster", Nasdaq: FSTR) today announced that the merger of Foster Thomas Company with and into Portec Rail Products, Inc. ("Portec") has been effected as of December 27, 2010. Portec is now a wholly owned subsidiary of L.B. Foster.
As of the close of trading on December 29, 2010, Portec's common stock will no longer be traded on the NASDAQ Stock Exchange.
About Portec Rail Products, Inc.
Established in 1906, Portec serves both domestic and international rail markets by manufacturing, supplying and distributing a broad range of rail products, rail anchors, rail spikes, railway friction management products and systems, rail joints, railway wayside data collection and data management systems and freight car securement systems. Portec also manufactures material handling equipment for industries outside the rail transportation sector through its United Kingdom operation. Portec operates through its four global business segments: Railway Maintenance Products (Salient Systems), Shipping Systems, Portec Rail Nova Scotia Company in Canada (Kelsan friction management, rail anchor and spike products), and Portec Rail Products, Ltd. in the UK (material handling and Coronet Rail products). Portec Rail Products is headquartered in Pittsburgh, PA.
About L.B. Foster Company
L.B. Foster is a leading manufacturer, fabricator and distributor of products and services for the rail, construction, energy and utility markets with approximately 30 locations throughout the United States. The Company was founded in 1902 and is headquartered in Pittsburgh, PA. Please visit our Website: www.lbfoster.com.
Contact information:
David Russo
(412) 928-3450
drusso@lbfosterco.com
SOURCE L.B. Foster Company
Web Site: http://www.lbfoster.com
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