Pittsburgh, Pennsylvania-based rail products manufacturers L.B. Foster Company and Portec Rail Products, Inc. announced Thursday the closing of the Asset Purchase Agreement with carbon compounds and rail materials manufacturer Koppers, Inc., a wholly-owned subsidiary of Koppers Holdings Inc.
Koppers will purchase the assets of Portec's rail join business primarily located at Portec's Huntington, West Virginia plant. Revenues for this business in 2010 are estimated at approximately $22 million.