L.B. Foster Co. (Nasdaq: FSTR) is buying the railroad-tuning unit of Balfour Beatty Rail GmbH.
The unit, FWO, provides track lubrication and equipment for international railways.
The buyer expects the deal to expand its line of track products and enhance its activities in Europe. Pittsburgh-based L.B. Foster focuses on friction management for railroads. The company’s services aim to help reduce wear and tear and improve efficiency for trains.
Other railway-related deals including NN Inc.’s (Nasdaq: NNBR) purchase of a majority stake in RFK Valjcici Konjic, which makes parts for the railway market, and Koppers Inc.’s $460 million deal for Osmose Holdings Inc.’s wood preservation and railroad services business.