L.B. Foster Promotes Two Senior Organization Leaders

PITTSBURGH, March 04, 2021 (Globe NEWSWIRE) — L.B. Foster Firm (the “Company”) (NASDAQ: FSTR) is pleased to announce the promotions of Gregory (Greg) W. Lippard, the Company’s Vice President of Rail Systems & Providers, to Senior Vice President, Rail Systems & Products and services, and William (Bill) F. Treacy, the Company’s Vice President of Infrastructure Solutions, to Senior Vice President, Infrastructure Solutions, just about every helpful instantly.

The promotions of Lippard and Treacy, which stick to L.B. Foster’s current realignment of its business segment composition last thirty day period, will report specifically to John F. Kasel, Senior Vice President and Chief Working Officer.

To superior align the Company’s competencies to switching market place dynamics, a latest reorganization was done which consolidated the Company’s reporting segments into two: Rail Systems & Solutions and Infrastructure Options. The Organization believes this framework will efficiently help its progress prospects and leverage rebounding marketplaces.

As the new Senior Vice President of Rail Technologies & Providers, Mr. Lippard will proceed to guide the Company’s rail businesses with duty for gross sales, technique, and business enterprise enhancement actions, and will also oversee advancement and engineering for present and new rail technological know-how alternatives. A 28-year veteran of L.B. Foster, Mr. Lippard has deep experience in the rail company and an personal expertise of world wide rail markets, the two of which have been integral to the Company’s worldwide marketplace leadership.

Rail Technologies & Products and services is a business segment which offers advanced technological innovation solutions that guidance new merchandise and expert services to produce true gains to prospects with improved effectiveness, decreased disruptions, improved passenger convenience and information, and enhanced protection.

As the new Senior Vice President of Infrastructure Remedies, Mr. Treacy will carry on to direct the Company’s diverse set of infrastructure businesses with a concentrate on developing scale all around the most beautiful markets and merchandise.

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Infrastructure Solutions is a business phase with created-to-purchase remedies that support assignments for transportation, hefty civil, commercial, and household infrastructure. Tasks fluctuate commonly from highways, bridges, ports, waterways, storm h2o, levees, buildings, utility expert services, and pipelines.

Commenting on the promotions, L.B. Foster President and CEO Robert Bauer reported, “Each Greg and Invoice are verified leaders who have played major roles in L.B. Foster’s ongoing strategic initiatives. They will just about every established substantial standards for their management groups that are excited about the options that lie ahead, and able of driving steady enhancement.”

About L.B. Foster Business

L.B. Foster Firm (the “Company”) (NASDAQ: FSTR), and its subsidiaries provide products and providers for the rail industry, and methods to support significant infrastructure assignments. Our impressive engineering and item growth solutions encourage the protection, reliability, and general performance of our customer’s complicated needs. The Firm maintains places in North The us, Europe, and Asia. For far more info, make sure you visit www.lbfoster.com.

This launch may well incorporate forward-seeking statements in just the indicating of Part 21E of the Securities and Trade Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements contain any statement that does not specifically relate to any historical or latest fact. Sentences containing text these types of as “believe,” “intend,” “plan,” “may,” “expect,” “should,” “could,” “anticipate,” “estimate,” “predict,” “project,” or their negatives, or other related expressions of a foreseeable future or forward-seeking character frequently should be thought of forward-wanting statements. Forward-looking statements in this launch are primarily based on management’s latest expectations and assumptions about upcoming gatherings that include inherent risks and uncertainties and may problem, between other things, L.B. Foster Company’s (the “Company’s”) expectations relating to our approach, aims, projections, and ideas concerning our monetary position, liquidity, funds sources, and outcomes of operations and conclusions pertaining to our strategic development initiatives, marketplace placement, and solution improvement. Although the Firm considers these anticipations and assumptions to be reasonable, they are inherently issue to important small business, financial, aggressive, regulatory, and other challenges and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s management. The Firm cautions viewers that different elements could lead to the precise benefits of the Corporation to vary materially from people indicated by ahead-on the lookout statements. Accordingly, investors ought to not put undue reliance on ahead-hunting statements as a prediction of real final results. Amongst the aspects that could cause the genuine outcomes to vary materially from people indicated in the ahead-searching statements are dangers and uncertainties similar to: the COVID-19 pandemic, and any long term international overall health crises, and the relevant social, regulatory, and economic impacts and the response thereto by the Company, our employees, our prospects, and national, point out, or area governments a continued deterioration in the prices of oil and pure gasoline and the similar effects on the upstream and midstream power markets a continuation or worsening of the adverse economic disorders in the markets we provide, whether as a end result of the existing COVID-19 pandemic, which includes its effect on journey and demand for oil and fuel, the continued deterioration in the price ranges for oil and gasoline, governmental vacation constraints, project delays, and price range shortfalls, or in any other case volatility in the global funds markets, together with interest level fluctuations, which could adversely influence our means to obtain the money markets on conditions that are favorable to us limitations on our means to attract on our credit history agreement, like as a consequence of any long term lack of ability to comply with restrictive covenants contained therein a continuing lower in freight or transit rail traffic, which includes as a consequence of the COVID-19 pandemic environmental matters, together with any charges associated with any remediation and checking the hazard of doing small business in international markets, like compliance with anti-corruption and bribery rules, foreign currency fluctuations and inflation, and trade limitations or embargoes our means to effectuate our tactic, such as cost reduction initiatives, and our skill to successfully combine acquired companies or to divest enterprises, this kind of as the current disposition of the IOS Test and Inspection Expert services enterprise and acquisition of LarKen Precast, LLC and to notice predicted gains prices of and impacts affiliated with shareholder activism continued customer limits about the on-website presence of third social gathering providers because of to the COVID-19 pandemic the timeliness and availability of materials from our main suppliers, together with any continuation or worsening of the disruptions in the provide chain knowledgeable as a consequence of th
e COVID-19 pandemic, as well as the influence on our obtain to supplies of consumer tastes as to the origin of such materials, these types of as customers’ concerns about conflict minerals labor disputes cyber-protection dangers these as information stability breaches, malware, ransomware, “hacking,” and identification theft, which could disrupt our business and may well result in misuse or misappropriation of confidential or proprietary information, and could end result in the disruption or problems to our methods, enhanced prices and losses, or an adverse outcome to our name the continuing efficient implementation of an enterprise source organizing process modifications in latest accounting estimates and their ultimate outcomes the adequacy of interior and external resources of money to fulfill funding requires, like our capacity to negotiate any added necessary amendments to our credit agreement or the terms of any new credit history arrangement, and reforms relating to the use of LIBOR as a benchmark for developing relevant interest charges the Company’s means to regulate its doing the job cash needs and indebtedness domestic and intercontinental taxes, such as estimates that may well effects taxes domestic and foreign authorities restrictions, such as tariffs economic conditions and regulatory adjustments prompted by the United Kingdom’s exit from the European Union a deficiency of point out or federal funding for new infrastructure assignments an maximize in manufacturing or content prices the decline of upcoming revenues from recent consumers and risks inherent in litigation and the result of litigation and merchandise warranty statements. Ought to just one or much more of these risks or uncertainties materialize, or need to the assumptions fundamental the forward-looking statements establish incorrect, precise outcomes could fluctuate materially from those people indicated. Important challenges and uncertainties that may well have an impact on the functions, efficiency, and success of the Company’s small business and forward-searching statements include things like, but are not restricted to, those established forth beneath Product 1A, “Risk Components,” and in other places in our Annual Report on Kind 10-K for the yr finished December 31, 2019, or as up to date and amended by our other periodic filings with the Securities and Exchange Fee.

The ahead-on the lookout statements in this release are produced as of the date of this release and we presume no obligation to update or revise any ahead-wanting assertion, no matter if as a final result of new details, potential developments, or otherwise, besides as demanded by the federal securities legislation.

Investor Relations:
Stephanie Listwak
(412) 928-3417
[email protected]
L.B. Foster Firm
415 Holiday getaway Generate
Suite 100
Pittsburgh, PA 15220