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L.B. Foster Announces Stock Repurchase Authorization
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.
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
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