PITTSBURGH — The Pittsburgh Post-Gazette reports that L.B. Foster Co. of Green Tree, Pa., invested an additional $500,000 in the Dakota, Minnesota & Eastern Railroad Corp., which is seeking to expand into the Powder River Basin coal fields of Wyoming.
The investment helped finance DM&E’s acquisition of a 1,400-mile regional railroad owned by I&M Rail Link. It brings Foster’s stake in the DM&E to 13.6 percent.