L.B. Foster restructures segment to focus on technology and anticipated infrastructure investments
To realign business growth strategies, L.B. Foster changes its segment reporting structure in 2021. The company will consolidate segments into Rail Technologies & Services, formerly Rail Products & Services, and Infrastructure Services, formerly Construction Products and Tubular and Energy Services. As the name suggests, Rail Technologies and Services will focus on developing technologies to enhance existing and new products. These include information systems and core rail products. Infrastructure Services will focus on benefiting from the recently passed Bipartisan Infrastructure Bill. The company anticipates significant investment and future contracts from the increased government spending.
New Activity|StructuralIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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