L.B. Foster Encourages Two Senior Small business Leaders
PITTSBURGH, March 04, 2021 (Globe NEWSWIRE) — L.B. Foster Firm (the “Company”) (NASDAQ: FSTR) is happy to announce the promotions of Gregory (Greg) W. Lippard, the Company’s Vice President of Rail Systems & Expert services, to Senior Vice President, Rail Systems & Services, and William (Invoice) F. Treacy, the Company’s Vice President of Infrastructure Options, to Senior Vice President, Infrastructure Alternatives, just about every helpful quickly.
The promotions of Lippard and Treacy, which observe L.B. Foster’s recent realignment of its business enterprise phase construction final month, will report instantly to John F. Kasel, Senior Vice President and Main Running Officer.
To improved align the Company’s competencies to changing marketplace dynamics, a latest reorganization was accomplished which consolidated the Company’s reporting segments into two: Rail Technologies & Companies and Infrastructure Methods. The Organization believes this structure will successfully assistance its growth options and leverage rebounding markets.
As the new Senior Vice President of Rail Systems & Providers, Mr. Lippard will continue to direct the Company’s rail firms with responsibility for income, system, and small business development actions, and will also oversee improvement and engineering for existing and new rail technological innovation alternatives. A 28-year veteran of L.B. Foster, Mr. Lippard has deep experience in the rail company and an personal know-how of world-wide rail marketplaces, both of those of which have been integral to the Company’s world-wide industry leadership.
Rail Technologies & Companies is a enterprise section which supplies superior technological innovation remedies that assistance new solutions and expert services to produce authentic rewards to customers with enhanced efficiency, decreased disruptions, improved passenger comfort and ease and facts, and improved protection. 
As the new Senior Vice President of Infrastructure Solutions, Mr. Treacy will proceed to guide the Company’s various set of infrastructure organizations with a focus on creating scale about the most beautiful marketplaces and solutions.
Infrastructure Methods is a business phase with made-to-purchase methods that guidance jobs for transportation, significant civil, industrial, and household infrastructure. Projects vary broadly from highways, bridges, ports, waterways, storm h2o, levees, buildings, utility providers, and pipelines.
Commenting on the promotions, L.B. Foster President and CEO Robert Bauer said, “Both Greg and Invoice are tested leaders who have performed considerable roles in L.B. Foster’s ongoing strategic initiatives. They will every established significant benchmarks for their management groups that are excited about the prospects that lie ahead, and capable of driving continuous improvement.”
About L.B. Foster Corporation
L.B. Foster Business (the “Company”) (NASDAQ: FSTR), and its subsidiaries offer solutions and solutions for the rail marketplace, and options to support critical infrastructure projects. Our ground breaking engineering and product improvement alternatives inspire the protection, reliability, and efficiency of our customer’s tough requirements. The Firm maintains areas in North The us, Europe, and Asia. For extra facts, please check out www.lbfoster.com.
This launch may incorporate ahead-on the lookout statements inside of the indicating of Segment 21E of the Securities and Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Ahead-on the lookout statements incorporate any statement that does not right relate to any historic or existing point. Sentences made up of terms these as “believe,” “intend,” “plan,” “may,” “expect,” “should,” “could,” “anticipate,” “estimate,” “predict,” “project,” or their negatives, or other related expressions of a potential or ahead-looking mother nature frequently must be regarded ahead-looking statements. Forward-looking statements in this launch are centered on management’s current expectations and assumptions about potential events that involve inherent hazards and uncertainties and may perhaps worry, among other things, L.B. Foster Company’s (the “Company’s”) expectations relating to our strategy, goals, projections, and programs with regards to our financial position, liquidity, capital sources, and results of operations and decisions with regards to our strategic development initiatives, sector situation, and product enhancement. Although the Company considers these expectations and assumptions to be acceptable, they are inherently matter to considerable business, economic, aggressive, regulatory, and other hazards and uncertainties, most of which are difficult to predict and quite a few of which are past the Company’s regulate. The Firm cautions audience that numerous elements could lead to the real benefits of the Corporation to vary materially from individuals indicated by ahead-on the lookout statements. Appropriately, buyers must not area undue reliance on ahead-searching statements as a prediction of actual outcomes. Among the the factors that could induce the genuine results to vary materially from all those indicated in the forward-hunting statements are challenges and uncertainties related to: the COVID-19 pandemic, and any foreseeable future international health and fitness crises, and the related social, regulatory, and financial impacts and the response thereto by the Business, our employees, our consumers, and countrywide, state, or nearby governments a ongoing deterioration in the price ranges of oil and natural gasoline and the linked affect on the upstream and midstream vitality markets a continuation or worsening of the adverse economic ailments in the markets we serve, no matter whether as a end result of the recent COVID-19 pandemic, such as its affect on vacation and demand for oil and fuel, the continued deterioration in the price ranges for oil and gasoline, governmental travel restrictions, task delays, and budget shortfalls, or otherwise volatility in the global money marketplaces, together with desire fee fluctuations, which could adversely have an impact on our skill to obtain the funds marketplaces on conditions that are favorable to us restrictions on our means to draw on our credit score settlement, which include as a consequence of any long term lack of ability to comply with restrictive covenants contained therein a continuing decrease in freight or transit rail targeted traffic, including as a end result of the COVID-19 pandemic environmental matters, like any charges associated with any remediation and checking the hazard of doing small business in intercontinental marketplaces, which include compliance with anti-corruption and bribery laws, overseas forex fluctuations and inflation, and trade restrictions or embargoes our means to effectuate our method, which include expense reduction initiatives, and our ability to effectively integrate obtained firms or to divest enterprises, this kind of as the latest disposition of the IOS Examination and Inspection Expert services business enterprise and acquisition of LarKen Precast, LLC and to know predicted benefits fees of and impacts associated with shareholder activism continued buyer constraints concerning the on-website existence of 3rd social gathering providers due to the COVID-19 pandemic the timeliness and availability of products from our important suppliers, such as any continuation or worsening of the disruptions in the source chain knowledgeable as a result of the COVID-19 pandemic, as well as the impact on our entry to materials of customer preferences as to the origin of this kind of supplies, these types of as customers’ worries about conflict minerals labor disputes cyber-security risks these types of as data stability breaches, malware, ransomware, “hacking,” and identity theft, which could disrupt our company and could outcome in misuse or misappropriation of confidential or proprietary information and facts, and could consequence in the disruption or problems to our systems, improved fees and losses, or an adverse outcome to our track record the continuing powerful implementation of an company resource planning method modifications in present-day accounting estimates and their supreme outcomes the adequacy of inner and exterior resources of money to satisfy funding wants, which include our means to negotiate any further needed amendments to our credit score arrangement or the terms of any new credit score arrangement, and reforms regarding the use of LIBOR as a benchmark for establishing relevant fascination fees the Company’s means to deal with its performing money necessities and indebtedness domestic and worldwide taxes, which includes estimates that could influence taxes domestic and overseas govt polices, which includes tariffs economic problems and regulatory improvements brought about by the United Kingdom’s exit from the European Union a lack of state or federal funding for new infrastructure assignments an maximize in production or material costs the decline of upcoming revenues from present-day customers and pitfalls inherent in litigation and the result of litigation and product or service warranty claims. Must a person or a lot more of these hazards or uncertainties materialize, or need to the assumptions underlying the forward-hunting statements verify incorrect, actual outcomes could range materially from those indicated. Considerable risks and uncertainties that may have an affect on the functions, general performance, and final results of the Company’s enterprise and ahead-hunting statements include, but are not limited to, individuals established forth below Product 1A, “Risk Things,” and somewhere else in our Annual Report on Sort 10-K for the year finished December 31, 2019, or as current and amended by our other periodic filings with the Securities and Exchange Fee.
The forward-on the lookout statements in this release are created as of the day of this release and we presume no obligation to update or revise any ahead-wanting assertion, no matter whether as a outcome of new information and facts, future developments, or normally, besides as demanded by the federal securities legal guidelines.
Investor Relations:
Stephanie Listwak
(412) 928-3417
[email protected]
L.B. Foster Organization
415 Holiday break Drive
Suite 100
Pittsburgh, PA 15220
