In line with strategic playbook, l.b. foster company to exit bridge grid deck product line in bedford, pa to focus on growing bridge forms business; company reiterates 2023 guidance

Pittsburgh, aug. 30, 2023 (globe newswire) -- l.b. foster company (nasdaq: fstr), a global technology solutions provider of products and services for the rail and infrastructure markets (the "company"), today announced it would discontinue its fabricated bridge grid deck manufacturing and commercial operations located in bedford, pa. the decision to exit the product line, which includes the separation of certain union and non-union employees both in bedford and greentree, pa, is a result of a weak bridge grid deck market condition and outlook due to customer adoption of newer technologies replacing the grid deck solution. it also allows the company to focus on its growing bridge forms product line which will continue to be produced at its bedford manufacturing site.
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