Business
L.B. Foster Announces Plan to Relocate Northwest Plant Operations
PITTSBURGH, Oct. 30, 2019 (GLOBE NEWSWIRE) -- L.B. Foster Company (the “Company”) (NASDAQ: FSTR), a leading manufacturer and distributor of products and
About this update from L.b. Foster Company
[{"type":"text","content":"PITTSBURGH, Oct. 30, 2019 (GLOBE NEWSWIRE) -- L.B. Foster Company (the “Company”) (NASDAQ: FSTR), a leading manufacturer and distributor of products and services for transportation and energy infrastructure, and its wholly owned subsidiary CXT® Incorporated, today announced plans to relocate its Spokane, Washington precast building manufacturing facility to Nampa, Idaho. \n CXT is a national provider of highly customized, modular building and concrete infrastructure products with additional manufacturing operations in Hillsboro, Texas and Waverly, West Virginia. The Spokane facility plans to cease operations at the end of December 2019. Robert P. Bauer, L.B. Foster Company President & CEO commented, “This move will help strategically position us to optimally serve our Western U.S. marketplace, and provide us access to new customers.” When fully commissioned in early January 2020, the Nampa, Idaho facility will employ approximately 80 people. “We are excited to join the Treasure Valley business community and are looking forward to developing strong strategic alliances throughout the region for years to come,” commented Steve Burgess, President, CXT, Incorporated. The purpose-built plant is situated on 10 acres with 79,000 sq. ft. dedicated for manufacturing, and 5,000 sq. ft. for offices and employee areas. About L.B. Foster Company L.B. Foster is a leading manufacturer and distributor of products and services for transportation and energy infrastructure with locations in North America and Europe. For more information, please visit www.lbfoster.com. CXT® is a registered trademark of L.B. Foster Company. This release may contain “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements provide management's current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Sentences containing words such as “believe,” “intend,” “plan,” “may,” “expect,” “should,” “could,” “anticipate,” “estimate,” “predict,” “project,” or their negatives, or other similar expressions of a future or forward-looking nature generally should be considered forward-looking statements. Forward-looking statements are based on m...