Pittsburgh-based manufacturing company LB Foster Company, USA, announced that it plans to complete the sale of the railway unit by the end of the second quarter. LB Foster acquired the shipping division after acquiring Portec Rail Products, Inc. in 2010. In the statement made by the company, he explained that companies operating in other sectors will be a more strategic choice for the unit in question, and the railway unit has a higher growth potential with another company.
The unit, which has two facilities in Illionis, Chicago and Kenova, West Virginia, has a total of 35 employees. Fastening systems such as chains, cables and belts are produced within the railway unit to be used in railway shipments. LB Foster plans to make a detailed explanation on the subject once the sale is complete.
Source : www.steelorbis.com.t is