Stella-Jones completes acquisition of Cahaba Pressure Treated Forest Products
19 November 2021 - 9:39PM
Stella-Jones Inc. (TSX: SJ) (“Stella-Jones” or the “Company”) today
announced that it has completed the previously disclosed
acquisition of the shares of Cahaba Pressure Treated Forest
Products, Inc. (“Cahaba Pressure”) through its U.S. subsidiary. The
purchase price totaled US$66 million, including working capital,
which is estimated at US$8 million.
Cahaba Pressure manufactures, distributes and
sells treated and untreated wood poles, crossties and posts and
provides custom treating services, primarily utilizing creosote,
copper naphthenate and pentachlorophenol at its wood treating
facility in Brierfield, Alabama. The consolidated sales for the
year ended December 31, 2020 totaled approximately US$56
million.
“We are pleased to welcome the employees of
Cahaba Pressure to Stella-Jones,” stated Eric Vachon, President and
CEO of Stella-Jones. “This acquisition strengthens our leadership
position in the product categories that we serve and supports our
strategy to drive continued growth.”
ABOUT
STELLA-JONESStella-Jones Inc. (TSX: SJ) is a
leading producer and marketer of pressure-treated wood products.
The Company supplies North America’s electrical utilities and
telecommunication companies with utility poles, and the continent’s
railroad operators with railway ties and timbers. Stella-Jones also
manufactures and distributes residential lumber and accessories to
retailers for outdoor applications, as well as industrial products
for construction and marine applications. The Company’s common
shares are listed on the Toronto Stock Exchange.
Except for historical information provided
herein, this press release may contain information and statements
of a forward-looking nature concerning the future performance of
the Company. These statements are based on suppositions and
uncertainties as well as on management's best possible evaluation
of future events. Such factors may include, without excluding other
considerations, fluctuations in quarterly results, evolution in
customer demand for the Company’s products and services, the impact
of price pressures exerted by competitors, the ability of the
Company to raise the capital required for acquisitions, and general
market trends or economic changes and the impact of the coronavirus
pandemic thereon. As a result, readers are advised that actual
results may differ from expected and should not place undue
reliance on forward-looking information.
Source : |
Stella-Jones
Inc. |
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Contacts: |
Silvana Travaglini, CPA,
CA |
Pierre Boucher, CPA,
CMA |
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Première vice-présidente et chef
des financesStella-Jones |
Jennifer McCaughey,
CFA MaisonBrison CommunicationsTél.:
(514) 731-0000 |
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Tél. : (514) 940-8660 |
pierre@maisonbrison.com |
|
stravaglini@stella-jones.com |
jennifer@maisonbrison.com |
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