In announcing the decision to sell the unit, the company noted that other industry participants would be a better strategic fit and, therefore, provide better growth potential for the business and its employees.
The shipping systems business employs 35 employees and maintains facilities in Chicago, Ill., and Kenova, W. Va. The unit manufactures chain, cable and strap tie down systems for vehicle and load securement in rail freight applications. L.B. Foster intends to release details of the sale upon completion of the transaction.