L.B. Foster and Portec Announce Completion of Asset Sale to Koppers for $22M

L.B. Foster Company FSTR and Portec Rail Products, Inc. PRPX today announced the closing of an Asset Purchase Agreement with Koppers, Inc., a wholly-owned subsidiary of Koppers Holdings Inc. KOP. Koppers will purchase the assets of Portec's rail joint business primarily located at Portec's Huntington, WV Plant. Revenues for this business in 2010 are estimated at approximately $22 million.