L.B. Foster Company (Nasdaq:FSTR), Pittsburgh, PA, will acquire pipeline equipment manufacturer Chemtec Energy Services LLC, Willis, TX. Terms were not disclosed.
The acquisition should expand L.B. Foster's energy products and services to the oil and gas markets. Chemtec Energy, whose 2014 revenues are expected to be $50 million, will operate as a wholly owned subsidiary of L.B. Foster.
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