L.B. Foster first disclosed the transaction June 4.
Holland L.P. Group Vice President-Mechanical Len O'Kray said, "The purchase of L.B. Foster's Shipping Systems Division will complement and expand the capabilities of Holland's Transportation Technology Division in the areas of Load Securement and Product Protection.
"The combination of an experienced and enthusiastic workforce, industry proven product offering and a manufacturing facility positioned for growth were all key considerations that supported our decision to purchase this business," Kray said.
Headquartered in Crete, Ill., Holland is a supplier of contract services and products for the both the Mechanical & Maintenance-of-Way segments within the railroad and transportation industry.