Premium railroads company LB Foster Co. FSTR lately secured a $4.5-million contract for rehabilitation of Pittsburgh’s Liberty Bridge. As per terms of the deal, the company would provide a 171,000-square foot steel grid decking to the main contractor, Joseph B. Fay Company, who is in charge of the rehabilitation process.
The Pennsylvania Department of Transportation (‘PennDOT’) and its associated engineering consultant, HDR, Inc., specifically demanded steel grid-reinforced solid deck panels for the Monongahela River Bridge. This is because according to the authorities, the modular nature and strength-to-weight ratio of steel grid deck panels would best serve the key objectives behind the modification of the bridge.
The new steel grid deck panels come with lower expense and improved long-term performance compared with alternative bridge deck design. LB Foster plans to manufacture these new deck panels at its Bedford, PA-based production facility, while shipments for the same will likely commence from Mar 2016 onward.
Moving Ahead
LB Foster is a popular fabricator, manufacturer and distributor of products utilized in the railway, energy or construction markets. The company also provides friction management solutions for the global railway industry that are used to increase efficiency of fuel consumption and lower depreciation of freight as well as transit railways.
The new award indicates LB Foster’s expertise in manufacturing deck materials. Certified by the American Institute of Steel Construction, the company’s Bedford plant is regarded as the biggest production hub for innovative deck material in the industry.
Stocks to Consider
LB Foster currently carries a Zacks Rank #5 (Strong Sell). Better-ranked stocks in the industry include AK Steel Holding Corp. AKS, On Assignment Inc. ASGN and Avis Budget Group, Inc. CAR. All three stocks hold a Zacks Rank #2 (Buy).
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