L.B. Foster Company (Nasdaq: FSTR), a global technology solutions
provider of products and services for the rail and infrastructure
markets, has unveiled a new brand purpose and visual identity that
represents the forward-thinking vision and purpose of the Company,
presented through a new global website.
L.B. Foster’s new brand purpose and visual identity
are the result of a 12-month consultation with key stakeholders
within and outside of the Company. The objective of the project was
to articulate and present a customer-centric organization that has
a clear vision and core purpose.
L.B. Foster’s new core purpose, “We innovate to
solve global infrastructure challenges,” captures the breadth of
the Company’s solutions and diversity of market applications. In
addition to the purpose, the Company has identified five primary
areas of influence that add value to our customer partnerships:
enabling safety, improving information flow, keeping things moving,
monitoring conditions, and enhancing environments.
John Kasel, President and Chief Executive Officer,
explains, “We have come a long way over the 20 years since our now
widely recognized red and black L.B. Foster logo was introduced.
Since then, we have continued to grow, acquiring and divesting
several businesses along the way. We wanted to invigorate how we
present ourselves visually, while also refining our core purpose
into a clear and simple message.”
Mr. Kasel concluded, “Our new brand identity
retains our respected logotype, but with the addition of a new
graphic ‘centrifuge’ icon. The centrifuge represents the momentum
of our business and is a concept that acknowledges our engineering
history. It’s modern, fresh, and inspiring, connecting the business
we are today with the aspirations we have for tomorrow.”
The Company now focuses its value creation and
initiatives through two specific segments: an end-to-end supplier
to the global railroad market; and a supplier of purpose-built
products to the North American infrastructure market. The global
website has been designed to represent those two segments, with all
products and services L.B. Foster provides around the world
organized under each.
The global rail segment outlined on lbfoster.com
houses all rail, friction management, and condition monitoring
products, as well as technology solutions and services that inform
passenger travel and safety. The infrastructure segment that
provides products within the North American market includes precast
concrete buildings and products, protective pipe coatings, water
well products used in agricultural and municipal projects, and
bridge forms.
The new brand and defined segments can be seen on
the L.B. Foster Company website www.lbfoster.com.
About L.B. Foster CompanyFounded
in 1902, L.B. Foster Company is a global technology solutions
provider of engineered, manufactured products and services that
builds and supports infrastructure. The Company’s innovative
engineering and product development solutions address the safety,
reliability, and performance needs of its customer's most
challenging requirements. The Company maintains locations in North
America, South America, Europe, and Asia. For more information,
please visit www.lbfoster.com. Forward-Looking
StatementsThis release may contain “forward-looking”
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended, and Section 27A of the Securities
Act of 1933, as amended. Forward-looking statements provide
management's current expectations of future events based on certain
assumptions and include any statement that does not directly relate
to any historical or current fact. Sentences containing words such
as “believe,” “intend,” “plan,” “may,” “expect,” “should,” “could,”
“anticipate,” “estimate,” “predict,” “project,” or their negatives,
or other similar expressions of a future or forward-looking nature
generally should be considered forward-looking statements.
Forward-looking statements in this release are based on
management's current expectations and assumptions about future
events that involve inherent risks and uncertainties and may relate
to, among other things, our strategy, goals, projections, and plans
regarding our financial position, liquidity, capital resources, and
results of operations as well as our strategic transformation,
value enhancement, and growth initiatives, market position, and
product development. While the Company considers the expectations
and assumptions underlying these statements 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 Company cautions readers that various
factors could cause the actual results of the Company to differ
materially from those indicated by forward-looking statements.
Accordingly, investors should not place undue reliance on
forward-looking statements as a prediction of actual results. Among
the factors that could cause the actual results to differ
materially from those indicated in the forward-looking statements
are risks and uncertainties related to: any future global health
crises, and the related social, regulatory, and economic impacts
and the response thereto by the Company, our employees, our
customers, and national, state, or local governments; a
continuation or worsening of the adverse economic conditions in the
markets we serve, including recession, the continued volatility in
the prices for oil and gas, governmental travel restrictions,
project delays, and budget shortfalls, or otherwise; volatility in
the global capital markets, including interest rate fluctuations,
which could adversely affect our ability to access the capital
markets on terms that are favorable to us; restrictions on our
ability to draw on our credit agreement, including as a result of
any future inability to comply with restrictive covenants contained
therein; a decrease in freight or transit rail traffic;
environmental matters, including any costs associated with any
remediation and monitoring of such matters; the risk of doing
business in international markets, including compliance with
anti-corruption and bribery laws, foreign currency fluctuations and
inflation, and trade restrictions or embargoes; our ability to
effectuate our strategy, including cost reduction initiatives, and
our ability to effectively integrate acquired businesses or to
divest businesses, such as the recent dispositions of the Track
Components, Chemtec, and Ties businesses, and acquisitions of the
Skratch Enterprises Ltd., Intelligent Video Ltd., and VanHooseCo
Precast LLC businesses and to realize anticipated benefits; costs
of and impacts associated with shareholder activism; the timeliness
and availability of materials from our major suppliers, as well as
the impact on our access to supplies of customer preferences as to
the origin of such supplies, such as customers’ concerns about
conflict minerals; labor disputes; cybersecurity risks such as data
security breaches, malware, ransomware, “hacking,” and identity
theft, which could disrupt our business and may result in misuse or
misappropriation of confidential or proprietary information, and
could result in the disruption or damage to our systems, increased
costs and losses, or an adverse effect to our reputation; the
continuing effectiveness of our ongoing 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, including our
ability to negotiate any additional necessary amendments to our
credit agreement or the terms of any new credit agreement, and
reforms regarding the use of SOFR as a benchmark for establishing
applicable interest rates; the Company’s ability to manage its
working capital requirements and indebtedness; domestic and
international taxes, including estimates that may impact taxes;
domestic and foreign government regulations, including tariffs;
economic conditions and regulatory changes caused by the United
Kingdom’s exit from the European Union; geopolitical conditions,
including the conflict in Ukraine and Israel; a lack of state or
federal funding for new infrastructure projects; an increase in
manufacturing or material costs; the loss of future revenues from
current customers; and risks inherent in litigation and the outcome
of litigation and product warranty claims. Should one or more of
these risks or uncertainties materialize, or should the assumptions
underlying the forward-looking statements prove incorrect, actual
outcomes could vary materially from those indicated. Significant
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, those
set forth under Item 1A, “Risk Factors,” and elsewhere in our
Annual Report on Form 10-K for the year ended December 31, 2022, or
as updated and/or amended and by our other current or periodic
filings with the Securities and Exchange Commission (including all
amendments to those filings).The forward-looking statements in this
release are made as of the date of this release and we assume no
obligation to update or revise any forward-looking statement,
whether as a result of new information, future developments, or
otherwise, except as required by the federal securities laws.
Marketing &
Communications:Caroline Toplak(412)
928-3540ctoplak@lbfoster.com
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