L.B. Foster (FSTR) Unit Awarded $6.5 Million Transit Contract
The Rail Products business unit of Pittsburgh, PA based L.B. Foster Company (Nasdaq: FSTR) has received a $6.5 million contract for transit rail and associated rail products for use on Chicago Transit Authority's (CTA) Dearborn Subway Project. L.B. Foster has begun delivery of 80ft rail sections, direct fixation (DFF) fasteners, insulated joints and contact rail insulators for the construction on the long delayed project which will modernize the subway to eliminate slow zones on CTA's Blue Line.
The Dearborn Subway Project is being fast tracked with deliveries of L.B. Foster's 115RE HH rail, DFF and other rail products to be completed by September 2009.
L.B. Foster Company (Foster), is a manufacturer, fabricator and distributor of products and services for the rail, construction, energy and utility markets. Foster classifies its activities into three business segments: Rail products, Construction products and Tubular products. [SM]
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