L.B. Foster Announces Acquisition of TEW Engineering Ltd.

PITTSBURGH, Pa. ( Jan. 19, 2015) – Pittsburgh, Pennsylvania-based L.B. Foster Company today announced the acquisition of TEW Engineering Ltd. of Nottingham, U.K., an Application Engineering Group that designs, manufactures and supports applications for rail markets and other major industries. The 100-year-old firm specializes in rail engineering solutions for control room, passenger information and trackside signaling applications. "The addition of the TEW Group to L.B. Foster provides an ideal platform for L.B. Foster's further expansion into international rail markets," said John Kasel, senior vice president of L.B. Foster Rail Business. "The addition of the TEW engineering team enhances our unique product application and automation solutions capabilities." Peter Jones, managing director of L.B. Foster Rail Technologies Ltd. added, "The TEW Group is building on 5 years of significant growth as customers continue to recognize their high quality project based work, innovative products and high level of service." He further noted, "There is a natural synergy, ambition and an underlying desire to work together in the markets we share - rail, automation solutions and materials handling. We are eager to grow our business in the U.K. and European markets, and we have identified the TEW Group as a perfect partner in achieving our goals." Sales for TEW Engineering were approximately $16.9 million in 2014. L.B. Foster expects the acquisition to be accretive to earnings in 2015. TEW Engineering will operate as a subsidiary of L.B. Foster Rail Technologies (U.K.) Ltd., headquartered in Sheffield, U.K. TEW Engineering Ltd. provides application engineering solutions, control panels, mimic diagrams, dynamic displays, passenger information systems and automation solutions for some of the world's rail and industrial organizations. L.B. Foster Company is a manufacturer, fabricator and distributor of products and services for the rail, construction, energy and utility markets with locations in North America and Europe.