L.B. Foster Acquires Inspection Oilfield Services

(RTTNews) - L.B. Foster Co (FSTR) on Friday announced the acquisition of Inspection Oilfield Services, a Houston-based company providing non-destructive testing and inspection services for tubular products used in critical oil and gas applications.

Foster said Inspection Oilfield has locations throughout the U.S. and is ideally positioned to support customers with a national footprint that includes all growing regions of oil and gas development. The company generated sales of about $120 million in 2014.

IOS sales in 2014 were approximately $120 million. L.B. Foster expects the acquisition to be accretive to earnings in 2015. The company will operate as a wholly-owned subsidiary of L.B. Foster Company.

L.B. Foster is a manufacturer, fabricator and distributor of products for the rail, construction, energy, and utility markets.