L.B. Foster acquires U.K.’s TEW Engineering

Written by Jenifer Nunez, assistant editor

L.B. Foster Company acquired TEW Engineering Ltd., a U.K.-based engineering group that designs, manufactures and supports applications for rail markets and other industries. The 100-year-old firm specializes in rail engineering solutions for control room, passenger information and trackside signaling applications.

 

“The addition of the TEW Group to L.B. Foster provides an ideal platform for L.B. Foster’s further expansion into international rail markets,” said John Kasel, senior vice president, L.B. Foster Rail Business. “The addition of the TEW engineering team enhances our unique product application and automation solutions capabilities.”

Sales for TEW Engineering were approximately $16.9 million in 2014. L.B. Foster expects the acquisition to be accretive to earnings in 2015. TEW Engineering will operate as a subsidiary of L.B. Foster Rail Technologies (UK) Ltd., headquartered in Sheffield, U.K.

Tags: