L.b. foster announces sale of steel piling products business

Pittsburgh, sept. 27, 2021 (globe newswire) -- l.b. foster company (nasdaq: fstr, the company), a leading provider of products and services for the rail industry and solutions to support critical infrastructure projects, announced today that it completed the sale of its steel piling products line of business to j.d. fields & company, inc. on september 24, 2021 for approximately $24 million in total proceeds. the company is retaining all pre-closing receivables and liabilities associated with the business. the asset sale includes all inventory held by the company associated with the line of business, as well as the related fixed assets, including its petersburg, va facility.
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