Listed on the NASDAQ Global Select market, LB Foster Co. is a foremost manufacturer, fabricator, and distributor of products and services for the transportation, construction, utility, energy, and recreation and agriculture markets. It supplies these markets with the materials required to build and maintain their infrastructure. LB Foster is based in Pittsburgh, Pennsylvania.
The Company's product groups include rail, such as rail and rail accessories, friction management, CXT concrete ties, rail monitoring, car repair, and track components. Product groups also include piling, coated products, threaded products, fabricated bridge, and CXT concrete buildings.
L.B. Foster's fabricated bridge products include complete bridge grid flooring packages, specially designed bridge drainage systems, bridge railings, and custom pedestrian railings and building complete bridges. For over four decades, the Company's Fabricated Bridge Products group has been a top provider of structural steel, bridge decking and railing for the construction and rehabilitation of bridges, highways and buildings. L.B. Foster introduced a new line of corrugated decking products last year.
In 2013, L.B. Foster acquired Ball Winch, LLC, which is a specialty pipe coating business. Therefore, going forward L.B. Foster will expand from a company that only coats straight line pipe up to 24" in diameter, to one that additionally applies protective custom coatings to specialty components, pipe sized up to 94" in diameter and infield pipeline joint applications.
L.B. Foster's Vice President, Tubular Products, Merry Brumbaugh, said,
"Ball Winch is now a key component of our tubular products group and it also benefits from a close proximity to our other North Houston pipe products plant."
In April 2014, L.B. Foster announced that it signed an agreement with AlumaBridge, LLC to market AlumaBridge orthotropic bridge decking as the manufacturer's exclusive North American sales channel. The design of the lightweight extruded deck panels are with a solid road surface to minimize tire noise, improve skid resistance and create a smooth ride. AlumaBridge is based in Ann Arbor, Michigan.
Mr. Greg Osberg, AlumaBridge's President/CEO, said, "Our lightweight aluminum decking encourages cost-saving bridge rehabilitation, rather than replacement of the span."
In May, L.B. Foster announced that its Board authorized a $0.03 per share regular quarterly cash dividend on its common stock. L.B. Foster's dividend yield is 0.24% and its dividend rate is $0.12.
Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.