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L.B. Foster Announces Agreement to Acquire Balfour Beatty Rail GmbH Railroad Tuning Unit (FWO)

Acquisition Expands L.B. Fosterís Friction Management and Track Product Capabilities

PITTSBURGH, PA, - October 29, 2014 - Pittsburgh, PA-based L.B. Foster Company (NASDAQ: FSTR) today announced an agreement to acquire the railroad tuning unit, FWO, of Balfour Beatty Rail GmbH. The German business provides track lubrication and switch roller equipment for international railway applications.

“FWO railway products will complement and expand L.B. Foster’s existing line of friction management and track products,” said Robert Bauer, L.B. Foster President and Chief Executive Officer. “This acquisition will undoubtedly enhance L.B. Foster’s rail activities in Europe”.

“The FWO ESA Electronic Track Lubricating system and associated specialist knowledge of wheel/rail interaction is an ideal fit with L.B. Foster’s existing solution portfolio, marketing expertise and R&D competencies,” noted Peter Jones, Managing Director, L.B. Foster Rail Technologies (UK) Ltd. The FWO business unit currently employs a team based in Bochum (Nordrhein-Westfalen, Germany) and has established sales in Europe and South America. Mr. Jones went on to say that, “I am delighted that the key employees in this business have decided to join the L.B. Foster team and help strengthen our position in the European market”.

 

 

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