Key Developments For LB Foster Co
LB Foster Co (FSTR.O) (Nasdaq)
L. B. Foster Co. Forms Joint Venture with Lally Pipe & Tube
L. B. Foster Co. announced a newly formed joint venture between three partners, Kentucky-based Lally Pipe & Tube, L.B. Foster and industry veteran, Jim Legg. Together the three partners have formed LB Pipe & Coupling Products, LLC, to manufacture couplings and accessories for the water well, oil country tubular goods (OCTG) and American Petroleum Institute (API) markets. LB Pipe & Coupling Products will occupy a manufacturing facility currently under construction in Magnolia, TX. The Texas facility is scheduled to be operational in January 2010.
L. B. Foster Co. Receives $2.7 Million Rail Products Contract for Pittsburgh North Shore Connector
L. B. Foster Co. announced that it has received a $2.7 million contract to supply a wide ranging package of rail products to the Allegheny County Port Authority Light Rail System. L.B. Foster is providing rail fasteners, trackwork and new rail for construction of the 1.2 mile North Shore Connector. Final delivery of L.B. Foster materials is scheduled for late 2010 and train service should begin in 2011.
L. B. Foster Co. Awarded $2.1 Million Dallas Area Rapid Transit Rail Products Contract
L. B. Foster Co. announced that it has been awarded a contract to supply direct fixation fasteners and bonded insulated joints for the first phase of the new Dallas Area Rapid Transit (DART) Orange Line from the city center of Dallas to Irving, TX. The Company is coordinating product shipments to the Northwest Corridor Expansion project to meet the scheduling requirements of the general contractor joint venture, Kiewit/Stacy and Witbeck/Reyes/Parsons Corporation.
Panama Canal Authority Awards $20.5 Million Piling Contract To L. B. Foster Co.
L. B. Foster Co. announced that PA has been awarded a $20.5 million contract to supply Gerdau Ameristeel sheet piling to the Panama Canal Authority (ACP) for use in the construction of the Panama Canal Expansion. The successful bidder for the PAC-4 contract opening later this year will install the piling for the excavation of the Pacific Access Channel and the construction of the Borinquen Dam. Gerdau Ameristeel's PS 31 flat steel sheets will be delivered in lengths of 56 ft. to 69 ft. Also, their PZC(TM) 26 Z-type sheet piling will be delivered in 49 ft. lengths.
L. B. Foster Co. Receives $3.9 Million Rail Products Stimulus Contract for Philadelphia Transit Project
L. B. Foster Co. announced that it has been awarded a $3.9 million transit rail products stimulus-funded contract for the Southeastern Pennsylvania Transportation Authority (SEPTA) Fern Rock Yard Track Renewal Project. New York City-based contractor Railworks Track Systems, Inc. is replacing track and contact rail installations dating from 1928, in Philadelphia's Fern Rock Yard with a wide range of transit products sourced from L.B. Foster. L.B. Foster has begun delivery of new rail, trackwork turnouts, contact rail, coverboards, insulator assemblies and bonded insulated joints to SEPTA yards in Philadelphia.
