Wednesday, September 05, 2012

L.B. Foster sells Precise Structural Products

L.B. Foster Company has completed of the sale of Precise Structural Products to Cianbro Fabrication and Coating Corporation. Terms of the transaction were not disclosed. Precise Structural Products is engaged in manufacturing fabricated steel products for the highway, bridge, transit and construction markets and providing custom fabrication and related services including welding, sawing, cambering, blasting and painting.

Commenting on the announcement, Don Foster, L.B. Foster senior vice president, Construction Products, stated, "We are pleased for our employees, customers and community, that Cianbro Fabrication and Coating Corporation, a respected name in the industry will be operating Precise in the future. This sale, coupled with our 2010 purchase of the Interlocking Deck System, positively addresses the L.B. Foster Company Fabricated Bridge Products portfolio strategy. This will allow us to concentrate on our industry leading position in the bridge market with our fabricated steel grid decking solutions."

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