L.B. Foster Sells Steel Piling Products Business for $24 Million >FSTR

By Colin Kellaher

L.B. Foster Co. on Monday said it has sold its steel piling products business to privately held J.D. Fields & Co. for total proceeds of about $24 million.

The Pittsburgh provider of products and services for the rail industry said it is retaining all pre-closing receivables and liabilities associated with the business, which generated revenue of about $43 million in the first half of the year.

L.B. Foster, which posted sales of $270.6 million in the first half, said it is narrowing its investment focus in the more profitable areas of rail technologies and precast concrete products.

Write to Colin Kellaher at colin.kellaher@wsj.com

Corrections & Amplifications

This article was corrected at 09:36 a.m. ET to fix the figure in the headline. L.B. Foster sold its steel piling products business for about $24 million, not 424 million.

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