Precast concrete company sells Valley operations
Rail tie manufacturing facility will remain here under new ownershipAugust 31st, 2023
CXT Inc. has sold its Spokane Valley-based rail tie operations to voestalpine Railway Systems Nortrak LLC, a subsidiary of Austria-based voestalpine Group, according to press releases from the two parent companies.
CXT, a subsidiary of Pittsburgh-based L.B. Foster that makes precast concrete buildings and other precast products, had been based in Spokane Valley before relocating most of its operations to Nampa, Idaho, a few years ago. Its rail tie operations remained in Spokane Valley, however, at 2420 N. Pioneer Lane, says Christina Cummings, office manager at CXT.
Regarding the reason for CXT selling off all operating assets of its prestressed concrete rail tie operations, Cummings says, “That’s just not really what we do.”
The voestalpine release states that the acquisition of the Spokane Valley facility positions the company to serve Western U.S. and Canada clients better.
Voestalpine Railway Systems Nortrak is a supplier of complete railroad infrastructure systems. With the acquisition of CXT’s rail tie operations, it now has the manufacturing capacity to produce mainline concrete crossties and provide a broader range of rail products, according to the voestalpine press release.
L.B. Foster says in its press release that revenue from CXT’s rail tie operations totaled about $9 million for the 12 months ended June 30. The sale to voestalpine Railway Systems Nortrak includes all inventory and fixed assets associated with the rail tie operations.
The terms of the transaction aren’t disclosed in the releases.
CXT moved to the Spokane area in 1987 from Edmonton, Alberta, the Journal previously reported. L.B. Foster bought CXT in 1999.