L.B. Foster Forms Joint Venture with Lally Pipe & Tube
November 5, 2009
New Firm to Manufacture Precision Pipe Couplings
PITTSBURGH, Nov. 5 /PRNewswire-FirstCall/ -- L.B. Foster Company (Nasdaq: FSTR) of Pittsburgh, PA, has announced a newly formed joint venture between three partners, Kentucky-based Lally Pipe & Tube, L.B. Foster and industry veteran, Jim Legg. Together the three partners have formed LB Pipe & Coupling Products, LLC, to manufacture couplings and accessories for the water well, oil country tubular goods (OCTG) and American Petroleum Institute (API) markets. LB Pipe & Coupling Products will occupy a manufacturing facility currently under construction in Magnolia, TX. The Texas facility is scheduled to be operational in January 2010.
The new operation will install the latest technology available to manufacture high quality precision couplings. "L.B. Foster is pleased to team with Lally in building this exciting joint venture. This will be the beginning of developing new opportunities in the future," noted Merry Brumbaugh, Vice President Tubular Products, L.B. Foster Company.
About L.B. Foster Company
L.B. Foster Company supplies transportation, construction, utility, recreation and agriculture markets with the materials necessary to build and maintain North America's infrastructure. Visit our new website: www.lbfoster.com
L.B. Foster Company Media Contact
Jake Fuellhart, L.B. Foster Company Marketing Communications Manager
412.928.5645 jfuellhart@lbfosterco.com
SOURCE L.B. Foster Company
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