LB Foster Wins OK For $114M Portec Buy With Plant Sale

Law360, New York (December 14, 2010, 6:22 PM EST) -- L.B. Foster Co. agreed Tuesday to sell a West Virginia raliroad part manufacturing plant in order to win U.S. Department of Justice approval to acquire Portec Rail Products Inc.

The deal, lodged in the U.S. District Court for the District of Columbia, calls for L.B. Foster's Huntington, W. Va., plant — which is involved in the development, manufacture and sale of certain railroad joints used to connect the abutting end of rails — to be sold to Koppers Inc.

L.B. Foster's original proposal to acquire Portec...
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