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TWST: Please begin with a brief historical sketch of the company and a picture
of the things you are doing right now.
Mr. Russo: The company actually was started by our current Chairman Lee Foster's
grandfather back in 1902 in the used rail business. He would purchase rail from
local railroads and grade it out and then resell the rail with a guarantee that
it would be adequate for the needs of local coal mines, steel mills, what have
you. We are actually still in that business today; we still provide that same
guarantee. But we are also into a lot of different businesses. We are in the
energy and utility market with tubular products. We are obviously still in the
rail industry and we've increased our position in the rail marketplace. We sell
construction products related primarily to transportation infrastructure as well
as heavy civil construction projects. TWST: What have been the principal drivers of the company's success?
Mr. Russo: There have been a few things. We have, I think, done a pretty nice
job taking a look at what has and hasn't worked for us in the past. We've shed
several businesses over the past six years that weren't a good strategic fit for
the company. We have purchased a couple of businesses that have worked quite
nicely for us. And we've very recently, within the last four to five years,
invested in organic business growth and have grown rather substantially in a
couple of different areas across the company. That has really been our key
strategy up to this point, along with some basic strategies to improve our
processes and increasing and improving our touch points with our customers and
our suppliers.
Tickers included in this excerpt: FSTR
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not make stock recommendations.
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