L.B. Foster Announces Appointment of Senior Vice President
(Thomson Reuters ONE) -
PITTSBURGH, Aug. 08, 2016 (GLOBE NEWSWIRE) -- Pittsburgh-based L.B. Foster
Company (NASDAQ:FSTR), a leading manufacturer, fabricator, and distributor of
products and services for rail, construction, energy, and utility markets, today
announces the appointment of Alexandre Kosmala as Senior Vice President.
L.B. Foster Company is pleased to announce the appointment of Alex Kosmala as
Senior Vice President responsible for the Tubular and Energy Services segment
and the Construction segment. Alex joins L.B. Foster from Saltel Industries, a
provider of drilling and well construction products and well maintenance
solutions, where he served as Executive Vice President. Previously, Alex served
as President & CEO of Artificial Lift Company, a pioneer in the technology of
slick-line deployed Electric Submersible Pumps and permanent magnet motors for
well completion solutions. He helped globalize the company's products and
services by moving into un-served markets and developing relationships with the
premier oil & gas developers in the world. Alex also spent 20 years with
Schlumberger in various assignments around the world where he had P&L
responsibility for businesses in Europe and Asia and successfully integrated new
companies following acquisitions. He began his career as a field engineer in the
drilling and measurements division of Schlumberger.
Alex holds a Bachelors and Masters degree in mechanical engineering from
Universite Henri Poincaré, France, a Diplome d'Ingenieur from École Nationale
Supérieure d'Electricité et de Mécanique, France and a Masters in Aerospace
engineering from the University of Illinois at Urbana-Champaign where he was
recently recognized as a distinguished alumnus.
In announcing the appointment, Robert P. Bauer, L.B. Foster Company President &
CEO said; "I am very pleased to have Alex join the management team. The
combination of his diverse operating skills, strong technical background, and
proven leadership ability will be a great asset as he assumes responsibility for
our businesses that serve the energy and construction markets. At a time when
our markets are changing and customers place significant demands on their
suppliers, Alex is the kind of leader who can develop strategies that adjust to
changing requirements and teams that will deliver solutions."
Alex will have an office in Houston, Texas where nearly all of the Tubular &
Energy Services divisions are based, as well as at the Company's headquarters in
Pittsburgh. His appointment is effective August 15, 2016.
About L.B. Foster Company
Established in 1902, L.B. Foster Company 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. More information is
available at: www.lbfoster.com
This release may contain forward-looking statements that involve risks and
uncertainties. Statements that do not relate strictly to historical or current
facts are forward-looking. When we use the words "believe," "intend," "expect,"
"may," "should," "anticipate," "could," "estimate," "plan," "predict,"
"project," or their negatives, or other similar expressions, the statements
which include those words are usually forward-looking statements. Actual results
could differ materially from the results anticipated in any forward-looking
statement. Accordingly, investors should not place undue reliance on forward-
looking statements as a prediction of actual results. The Company has based
these forward-looking statements on current expectations and assumptions about
future events. While the Company considers these expectations and assumptions to
be reasonable, they are inherently subject to significant business, economic,
competitive, regulatory and other risks and uncertainties, most of which are
difficult to predict and many of which are beyond the Company's control. The
risks and uncertainties that may affect the operations, performance and results
of the Company's business and forward-looking statements include, but are not
limited to, an economic slowdown or a continuation of the current economic
slowdown in the markets we serve; the risk of doing business in international
markets; our ability to effectuate our strategy including evaluating potential
opportunities such as strategic acquisitions, joint ventures, and other
initiatives, and our ability to effectively integrate new businesses and realize
anticipated benefits; costs of and impacts associated with shareholder activism;
a decrease in freight or passenger rail traffic; the timeliness and availability
of material from our major suppliers; labor disputes; the effective
implementation of an enterprise resource planning system; changes in current
accounting estimates and their ultimate outcomes; the adequacy of internal and
external sources of funds to meet financing needs; the Company's ability to
manage its working capital requirements and indebtedness; domestic and
international taxes; foreign currency fluctuations; inflation; domestic and
foreign government regulations; continued and sustained declines in energy
prices; a lack of state or federal funding for new infrastructure projects;
increased regulation including conflict minerals; an increase in manufacturing
or material costs; the ultimate number of concrete ties that will have to be
replaced pursuant to the previously disclosed product warranty claim of
the Union Pacific Railroad ("UPRR") and an overall resolution of the related
contract claims as well as the possible costs associated with the outcome of the
lawsuit filed by the UPRR; risks inherent in litigation and those matters set
forth in Item 8, Footnote 19, "Commitments and Contingent Liabilities" and in
Item 1A, "Risk Factors" of the Company's Form 10-K for the year ended December
31, 2015 as updated by any subsequent Form 10-Qs. 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 forward-looking
statements contained in this press release are made only as of the date hereof,
and the Company assumes no obligation and does not intend to update or revise
these statements, whether as a result of new information, future events or
otherwise, except as required by securities laws.
Media Contact:
Jake Fuellhart, Corporate Marketing Communications Manager, L.B. Foster Company
412.928.5645 jfuellhart(at)lbfoster.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: L.B. Foster Company via GlobeNewswire
[HUG#2033924]
Datum: 08.08.2016 - 19:00 Uhr
Sprache: Deutsch
News-ID 487825
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Town:
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