PITTSBURGH, Aug. 08, 2016 (GLOBE
NEWSWIRE) -- Pittsburgh-based L.B. Foster Company (NASDAQ:FSTR), a
leading manufacturer, fabricator, and distributor of products and
services for rail, construction, energy, and utility markets, today
announces the appointment of Alexandre Kosmala as Senior Vice
President.
L.B. Foster Company is pleased to
announce the appointment of Alex Kosmala as Senior Vice President
responsible for the Tubular and Energy Services segment and the
Construction segment. Alex joins L.B. Foster from Saltel
Industries, a provider of drilling and well construction products
and well maintenance solutions, where he served as Executive Vice
President. Previously, Alex served as President & CEO of
Artificial Lift Company, a pioneer in the technology of slick-line
deployed Electric Submersible Pumps and permanent magnet motors for
well completion solutions. He helped globalize the company's
products and services by moving into un-served markets and
developing relationships with the premier oil & gas developers
in the world. Alex also spent 20 years with Schlumberger in various
assignments around the world where he had P&L responsibility
for businesses in Europe and Asia and successfully integrated new
companies following acquisitions. He began his career as a field
engineer in the drilling and measurements division of
Schlumberger.
Alex holds a Bachelors and Masters
degree in mechanical engineering from Universite Henri Poincaré,
France, a Diplome d'Ingenieur from École Nationale Supérieure
d'Electricité et de Mécanique, France and a Masters in Aerospace
engineering from the University of Illinois at Urbana-Champaign
where he was recently recognized as a distinguished alumnus.
In announcing the appointment, Robert
P. Bauer, L.B. Foster Company President & CEO said; "I am very
pleased to have Alex join the management team. The combination of
his diverse operating skills, strong technical background, and
proven leadership ability will be a great asset as he assumes
responsibility for our businesses that serve the energy and
construction markets. At a time when our markets are changing and
customers place significant demands on their suppliers, Alex is the
kind of leader who can develop strategies that adjust to changing
requirements and teams that will deliver solutions."
Alex will have an office in Houston,
Texas where nearly all of the Tubular & Energy Services
divisions are based, as well as at the Company's headquarters in
Pittsburgh. His appointment is effective August 15, 2016.
About L.B. Foster Company
Established in 1902, L.B. Foster Company
is a leading manufacturer, fabricator, and distributor of products
and services for the rail, construction, energy, and utility
markets with locations in North America and Europe. More
information is available at: www.lbfoster.com
This release may contain forward-looking statements that
involve risks and uncertainties. Statements that do not relate
strictly to historical or current facts are forward-looking. When
we use the words "believe," "intend," "expect," "may," "should,"
"anticipate," "could," "estimate," "plan," "predict," "project," or
their negatives, or other similar expressions, the statements which
include those words are usually forward-looking statements. Actual
results could differ materially from the results anticipated in any
forward-looking statement. Accordingly, investors should not
place undue reliance on forward-looking statements as a prediction
of actual results. The Company has based these forward-looking
statements on current expectations and assumptions about future
events. While the Company considers these expectations and
assumptions to be reasonable, they are inherently subject to
significant business, economic, competitive, regulatory and other
risks and uncertainties, most of which are difficult to predict and
many of which are beyond the Company's control. The risks and
uncertainties that may affect the operations, performance and
results of the Company's business and forward-looking statements
include, but are not limited to, an economic slowdown or a
continuation of the current economic slowdown in the markets we
serve; the risk of doing business in international markets; our
ability to effectuate our strategy including evaluating potential
opportunities such as strategic acquisitions, joint ventures, and
other initiatives, and our ability to effectively integrate new
businesses and realize anticipated benefits; costs of and impacts
associated with shareholder activism; a decrease in freight or
passenger rail traffic; the timeliness and availability of material
from our major suppliers; labor disputes; the effective
implementation of an enterprise resource planning system; changes
in current accounting estimates and their ultimate outcomes; the
adequacy of internal and external sources of funds to meet
financing needs; the Company's ability to manage its working
capital requirements and indebtedness; domestic and international
taxes; foreign currency fluctuations; inflation; domestic and
foreign government regulations; continued and sustained declines in
energy prices; a lack of state or federal funding for new
infrastructure projects; increased regulation including conflict
minerals; an increase in manufacturing or material costs; the
ultimate number of concrete ties that will have to be replaced
pursuant to the previously disclosed product warranty claim of
the Union
Pacific Railroad ("UPRR")
and an overall resolution of the related contract claims as well as
the possible costs associated with the outcome of the lawsuit filed
by the UPRR; risks inherent in litigation and those matters set
forth in Item 8, Footnote 19, "Commitments and Contingent
Liabilities" and in Item 1A, "Risk Factors" of the Company's Form
10-K for the year ended December
31, 2015 as
updated by any subsequent Form 10-Qs. The Company urges all
interested parties to read these reports to gain a better
understanding of the many business and other risks that the Company
faces. The forward-looking statements contained in this press
release are made only as of the date hereof, and the Company
assumes no obligation and does not intend to update or revise these
statements, whether as a result of new information, future events
or otherwise, except as required by securities laws.