Stella-Jones Signs Letter of Intent to Acquire the Wood Treating Facilities of Boatright Railroad Products
18 March 2014 - 10:00PM
Marketwired
Stella-Jones Signs Letter of Intent to Acquire the Wood Treating
Facilities of Boatright Railroad Products
MONTREAL, QUEBEC--(Marketwired - Mar 18, 2014) - Stella-Jones
Inc. (TSX:SJ) today announced that it has signed a non-binding
letter of intent to acquire the wood treating facilities of
Boatright Railroad Products, Inc. ("Boatright") located in
Montevallo and Clanton, Alabama. Boatright manufactures, sells and
distributes creosote and borate-treated crossties as well as switch
ties, tie plugs and bridge timbers to railroad operators.
The transaction, if finalized, is expected to close during the
latter part of the second quarter of 2014 and is subject to
customary closing conditions, including signature of a definitive
asset purchase agreement and satisfactory due diligence.
Stella-Jones plans to finance the transaction through existing
credit facilities.
ABOUT STELLA-JONES
Stella-Jones Inc. (TSX:SJ) is a leading producer and marketer of
pressure treated wood products. The Company supplies North
America's railroad operators with railway ties and timbers, and the
continent's electrical utilities and telecommunication companies
with utility poles. Stella-Jones also provides residential lumber
to retailers and wholesalers 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 contains information and statements of a forward-looking
nature concerning the proposed acquisition described herein. These
statements are based on suppositions, risks and uncertainties as
well as on management's best possible evaluation of future events.
Such risks and uncertainties include, without excluding other
considerations, satisfactory completion of due diligence,
satisfaction of other closing conditions and failure to complete
the proposed acquisition for any other reason. As a result, readers
are advised that actual results may differ from expected results
and should not place undue reliance on forward-looking
information.
Source:Stella-Jones Inc.Contacts: Eric Vachon, CPA, CASenior
Vice-President and Chief Financial OfficerTel.: (514)
940-3903evachon@stella-jones.comMartin Goulet, CFAMaisonBrison
CommunicationsTel.: (514) 731-0000martin@maisonbrison.com
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