Cxt Parent Marks Ceremonial Nasdaq Trading Close

L.B. Foster Co. Chairman Lee Foster II, CEO Stan Hasselbusch, and other executives presided over formal closing of May 7 trading on the Nasdaq stock exchange.

L.B. Foster Co. Chairman Lee Foster II, CEO Stan Hasselbusch, and other executives presided over formal closing of May 7 trading on the Nasdaq stock exchange. The gesture marked the company’s 25th anniversary of its Nasdaq listing.

Heading a company much different from that of 25 years ago, Foster noted, Our base of business has shifted from a focus on tubular goods, primarily for the oil business, to offering a much broader line of distributed and manufactured products for rail, construction and energy and utility markets.

Among Pittsburgh-based L.B. Foster’s most recent major investments has been CXT, the Spokane, Wash., producer of modular precast buildings and concrete cross ties for passenger and freight rail applications. Solid performance of CXT operations in Spokane and Grand Island, Neb., coupled with two Union Pacific rail tie contracts has prompted L.B. Foster to earmark more than $30 million in capital upgrades to the existing properties and add a third rail tie plant in Tucson, Ariz.