Amends Revolving Credit Agreement to Accommodate the Acquisition

PITTSBURGH, Aug. 12, 2022 (GLOBE NEWSWIRE) — L.B. Foster Company (Nasdaq: FSTR “L.B. Foster”), a global solutions provider of products and services for the rail and infrastructure markets, today announced that its wholly-owned subsidiary, CXT Incorporated (“CXT”) (L.B. Foster and CXT are sometimes collectively referred to as …

Today is a momentous day for L.B. Foster Company as we announce the expansion of our precast concrete business through the acquisition of VanHooseCo Precast Operating. This strategic move will not only enhance our offerings in the rail and infrastructure markets but also solidify our position as a global solutions provider.

Expanding Our Reach in the Industry

With this acquisition, we are able to broaden our product portfolio and serve a wider range of customers with high-quality precast concrete solutions. VanHooseCo Precast Operating is known for its innovative approach and commitment to excellence, which aligns perfectly with our own values and mission.

Creating Synergies and Driving Growth

By integrating VanHooseCo Precast Operating into our business, we are able to leverage synergies and collective expertise to drive growth and innovation. This strategic move not only benefits our company but also our customers who will now have access to a wider range of products and services.

Impact on the Industry

This acquisition is not just a business transaction; it is a testament to our commitment to growth and excellence in the rail and infrastructure markets. We are confident that this strategic move will position us for even greater success in the years to come.

How will this affect me?

As a customer, you can expect to benefit from an expanded range of products and services as a result of this acquisition. We are committed to providing you with the highest quality precast concrete solutions and ensuring that your needs are met effectively and efficiently.

How will this affect the world?

This acquisition demonstrates our dedication to innovation and growth in the global rail and infrastructure markets. By expanding our reach and enhancing our offerings, we are contributing to the advancement of the industry and driving positive change on a global scale.

Conclusion

In conclusion, the acquisition of VanHooseCo Precast Operating marks a significant milestone for L.B. Foster Company and reflects our continued commitment to excellence and growth. We are excited about the opportunities that this strategic move will bring and look forward to serving our customers with enhanced products and services.