Business
L.B. Foster and FUCHS Announce Strategic Partnership to Develop Industry-Leading Friction Management Products for the Global Rail Markets
PITTSBURGH, Dec. 14, 2022 (GLOBE NEWSWIRE) -- L.B. Foster Company (NASDAQ: FSTR), a global solutions provider of products and services for the rail and
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[{"type":"text","content":"PITTSBURGH, Dec. 14, 2022 (GLOBE NEWSWIRE) -- L.B. Foster Company (NASDAQ: FSTR), a global solutions provider of products and services for the rail and infrastructure markets (\"L.B. Foster\" or the “Company”), is pleased to announce a strategic partnership with The FUCHS Lubricants Co, the world's largest independent lubricant manufacturer. The partnership combines L.B. Foster’s renowned expertise in the development and implementation of railroad friction management technologies with FUCHS’s world-class lubricant manufacturing capabilities. L.B. Foster offers its rail customers trackside and on-board friction management solutions and pioneered Total Friction Management® (TFM). TFM is how L.B. Foster works with railroads around the world to deliver holistic, optimized friction management programs. L.B. Foster continues to push innovation in friction management lubricant products to drive considerable savings to its customers through rail and wheel wear reduction, increased operational efficiencies, and improved safety. FUCHS is a global company that develops, produces, and distributes more than 10,000 lubricants and related services with industry-specific solutions for demanding applications. This strategic partnership facilitates driving global production of the L.B. Foster and FUCHS co-branded greases in international growth regions as well as supporting increasing demands in North America. This partnership also provides in-country manufacturing benefits for customers and the ability to deliver on overall increased demand. Commenting on the partnership, L.B. Foster President and CEO John Kasel said, “We are excited to work with FUCHS as our preferred partner for manufacturing our advanced friction management lubricants. The combination of our wheel/rail engineering expertise with FUCHS’s lubricant manufacturing competencies will bring best-in-class solutions that will benefit the global rail industry.” FUCHS Lubricants Co. President and CEO Keith Brewer said, “FUCHS and L.B. Foster have similar core values and a shared vision to advance innovation. Through this partnership customers in the rail industry can now purchase all their lubrication solutions and services from a single source.” With this partnership, end users will have access to a portfolio of co-branded greases to choose from, as well as high performance greases tha...