PITTSBURGH, Dec. 10, 2015 (GLOBE NEWSWIRE) -- L.B. Foster Company (NASDAQ:FSTR) announced today that its Board of Directors authorized the repurchase of up to $30 million of its common shares through December 2017 at which time the authorization will expire. This new authorization is effective January 1, 2016 and will replace the current authorization.
The Company may purchase its shares on the open market or in private transactions from time to time at the discretion of management and may be suspended or discontinued at any time. The Board of Directors will continue to evaluate the size of the stock repurchase program based upon the Company’s free cash flow, liquidity and alternative opportunities for L.B. Foster’s capital.
About L.B. Foster Company
L.B. Foster 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. Please visit our website: www.lbfoster.com
The matters discussed in this news release include forward-looking statements that involve risks and uncertainties including statements regarding L.B. Foster Company’s plans and expectations regarding its new share repurchase program. Sentences containing words such as “anticipates,” “expects,” or “will,” generally should be considered forward-looking statements. Factors that could cause actual results to differ materially from those contained in our forward looking statements as well as detailed information on risks and uncertainties which could affect the Company’s operating results and liquidity are described in the Company’s Forms 10-K, 10-Q and other reports, filed or to be filed with the Securities and Exchange Commission. 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 Company assumes no obligation to update or revise such statements, whether as a result of new information or otherwise, except as required by securities laws.