Benzinga | Jul 13, 2021 02:56PM EDT

L.B. Foster Secures $7M Subcontract For USACE Soo Locks Construction Project

* L.B. Foster Co (NASDAQ:FSTR) has been awarded a $7 million subcontract to supply infrastructure materials to rehabilitate existing upstream approach walls for a new lock at the U.S. Army Corps of Engineers (USACE) Soo Locks Complex in Sault Ste. Marie, Michigan.

* The company is supplying approximately 5,750 tons of steel piling to construction firm Kokosing-Alberici, LLC.

* L.B. Foster and major supply partner, Gerdau, managed the delivery of the piling beginning in spring 2021, with installation estimated to be completed in 2023.

* Price action: FSTR shares are trading lower by 1.17% at $17.80 on the last check Tuesday.