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L.B. Foster (FSTR) Extends Tender Offer for Portec Rail (PRPX)

March 23, 2010 3:27 PM EDT
L.B. Foster Company (Nasdaq: FSTR) announced that it is extending its previously announced cash tender offer, through its wholly-owned subsidiary Foster Thomas Company, for all outstanding shares of common stock of Portec Rail Products, Inc. (Nasdaq: PRPX), until 12:00 midnight, New York City time, on April 26, 2010. The tender offer was previously set to expire at midnight, New York City Time, on March 25, 2010.

As of the close of business on March 22, 2010, 1,589,482 shares of common stock had been tendered in and not withdrawn from the offer. These tendered shares constituted 16.55% of the outstanding shares of common stock.

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