L.B. Foster sees Portec buy aiding move into global markets
Feb 19, 2010 | 11:44 AM
| Corinna Petry
L.B. Foster Co.'s planned takeover of Portec Rail Products Inc. will allow Foster to enter international markets, the company said.
The takeover "brings together two strong organizations that deliver rail products," Stan Hasselbusch, L.B. Foster's president and chief executive officer, said during an investors conference call. "We will add a wide variety of products to become a premier supplier of products below the rail, which allows us to build a strong international presence," he said, pointing to Portec's existing business relationships in both Canada and Britain.
"Close to half of Portec's business is in Canada and the U.K., and the company recently booked business in China, a market we're trying to get into," David R. Sauder, L.B. Foster's vice president of global business development, said.....
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