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• Two Pittsburgh-based companies plan to tie the knot. This morning, L.B. Foster Co. and Portec Rail Products Inc. announced they’d signed an “agreement and plan of merger” under which a wholly owned L.B. Foster subsidiary would make a cash tender offer to acquire all of Portec’s outstanding shares of common stock for $11.71 per share. Subject to the satisfaction of customary closing conditions and certain other conditions, including Hart-Scott-Rodino antitrust clearance, as well as at least 65 percent of Portec’s outstanding shares being tendered, the transaction is expected to close before the end of the second quarter.

• Greenbrier Management Services L.L.C. (GMS) is now providing rail-car management services to RailAmerica Inc. — including car hire payable, car hire receivable and car repair payable processing. In late 2009, GMS began processing car hire payables on rail equipment interchanged onto RailAmerica’s network of 39 regional and short-line railroads, and car-hire receivables generated by RailAmerica’s fleet. Final implementation is expected to be completed “early in 2010 ahead of promised delivery schedule,” according to GMS.