L.B. Foster and FUCHS Extend Strategic Partnership with Industry-Leading Friction Management Products for the Rail Market

Stefan Fuchs – Chairman of the Executive Board of FUCHS SE, and John Kasel – President and CEO, L.B. Foster Company

Stefan Fuchs – Chairman of the Executive Board of FUCHS SE, and John Kasel – President and CEO, L.B. Foster Company alongside their management teams at the FUCHS main office in Mannheim, Germany

PITTSBURGH, Sept. 25, 2023 (GLOBE NEWSWIRE) -- L.B. Foster Company (Nasdaq: FSTR), a global technology solutions provider of products and services for the rail and infrastructure markets is pleased to announce that its North American strategic partnership with FUCHS Lubricants Co., the world's largest independent lubricant manufacturer, will be extended to additional rail markets in South America, Australia, and China. The partnership combines L.B. Foster’s renowned expertise in the deployment of total friction management solutions for the global rail industry with FUCHS’s manufacturing capabilities and world-class lubrication solutions for railway traffic.

L.B. Foster offers its rail customers trackside and on-board friction management solutions and pioneered Total Friction Management (TFM) solutions for the rail freight, passenger, and urban transit sectors. TFM is how L.B. Foster works with railroads around the world to deliver holistic, optimized friction management programs. FUCHS is a global company that develops, produces, and distributes more than 10,000 lubricants and related services with industry-specific solutions for demanding applications.

Together, L.B. Foster and FUCHS continue to push innovation in friction management lubricant products to drive considerable savings to its customers through rail and wheel wear reduction, increased operational efficiencies, and improved safety. This strategic partnership facilitates driving global production of the L.B. Foster and FUCHS co-branded greases in international growth regions as well as continuing to support the increasing demands in North America.

Commenting on the partnership, L.B. Foster President and CEO John Kasel said, “We are excited to work with FUCHS as our preferred partner for manufacturing our advanced friction management lubricants. The combination of our wheel/rail engineering expertise with FUCHS’s lubricant manufacturing competencies brings best-in-class solutions designed to benefit the global rail industry.”

Stefan Fuchs, Chairman & CEO, FUCHS Group adds: “We are pleased to unveil the extension of this successful strategic partnership. It is clearly a win-win for the rail industry. Our colleagues at L.B. Foster Friction Management are experts in complementary fields. By acting together, we will deliver combined capabilities that place friction modification as a value-added essential on the railways. What cements this strategic partnership is our shared values of trust, respect, reliability and integrity, creating value through innovation and first-class service for customers in certain rail markets.”