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Non-Tech : FreightCar America - RAIL -

RAIL 9.153

-6.4%

Oct 29 3:59 PM EDT

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To: richardred who wrote (29)	2/17/2010 12:15:36 PM
From: richardred	of 64

L.B. Foster to acquire Portec Pittsburgh Business Times L.B. Foster Co. said Wednesday it will acquire Portec Rail Products Inc. Green Tree-based L.B. Foster (Nasdaq: FSTR) will make a cash tender offer for all of Portec's outstanding shares of common stock at $11.71 per share. Portec (Nasdaq: PRPX) is a rail supplier based in O'Hara Township, near Pittsburgh. Manufacturer L.B. Foster in January reported fourth-quarter earnings of $3.9 million, or 38 cents per share, which beat Wall Street's expectations. "The proposed acquisition will bring together two organizations with a rich history of successfully delivering products and services to the global rail industry," Stan Hasselbusch, L.B. Foster's president and CEO said in a prepared statement. The deal is subject to regulatory approval, but is expected to close before the second quarter of 2010. pittsburgh.bizjournals.com

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