Brief: L.B. Foster Announces Settlement Of Union Pacific Litigation

L B Foster

14/03/2019 20:43

March 14 (Reuters) - L.B. Foster Co  FSTR.O :
    * L.B. FOSTER ANNOUNCES SETTLEMENT OF UNION PACIFIC
LITIGATION
    * L.B. FOSTER - CO, UPRR TO SETTLE LITIGATION INITIATED BY
UPRR
FOR WARRANTY CLAIMS ASSOCIATED WITH CONCRETE TIES MADE AT GRAND
ISLAND, NEBRASKA FACILITY
    * L.B. FOSTER CO - UPRR HAS AGREED TO RESTORE COMMERCIAL
RELATIONSHIP WITH L.B. FOSTER.
    * L.B. FOSTER CO - COMPANY AND CXT WILL PAY TO UPRR
AGGREGATE
AMOUNT OF $50 MILLION WITHOUT PRE-JUDGMENT INTEREST
    * L.B. FOSTER - COMMENCING IN JAN AND THROUGH DEC 2024, UPRR
AGREED TO BUY FROM CO A TOTAL OF $48 MILLION OF PRODUCTS AND
SERVICES
    * L.B. FOSTER CO - WILL TAKE A $43 MILLION NON-CASH CHARGE
($50
MILLION MINUS $7 MILLION RESERVE) FOR YEAR ENDED DECEMBER 31,
2018

Source : (https://bit.ly/2XZkWdC)
Further company coverage:  FSTR.O 

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