L.B. Foster (FSTR) to Sell Railway Securement Unit

L.B. Foster Company (NASDAQ: FSTR) announced today that the infrastructure products company will sell its railway securement business in a transaction expected to be completed by the end of the second quarter. L.B. Foster acquired the shipping systems division as part of its acquisition of Portec Rail Products, Inc. in December 2010. In announcing the decision to sell the unit, the company noted that other industry participants would be a better strategic fit and, therefore, provide better growth potential for the business and its employees.

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