PITTSBURGH — L.B. Foster Co. and Portec Rail Products Inc. announced the closing of an Asset Purchase Agreement with Koppers, Inc., a wholly-owned subsidiary of Koppers Holdings Inc.
Koppers will purchase the assets of Portec’s rail joint business primarily located at Portec’s Huntington, W.Va., Plant. Revenues for this business in 2010 are estimated at approximately $22 million.
“We are happy to finalize this transaction with Koppers and complete our last step in the acquisition of Portec Rail Products Inc.,” said Stan Hasselbusch, president & CEO of L.B. Foster.