MONTRÉAL, QUÉBEC--(Marketwire - May 1, 2012) - Stella-Jones Inc. (TSX:SJ) today announced that it has signed a non-binding letter of intent to acquire certain pole treating assets of Brisco Wood Preservers Ltd., a provider of treated wood poles located in British Columbia.
The transaction, if finalized, is expected to close in July 2012 and is subject to customary closing conditions, including entry into a definitive purchase agreement and satisfactory due diligence. Stella-Jones plans to finance the transaction through existing credit facilities.
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, timbers and recycling services; and the continent's electrical utilities and telecommunications companies with utility poles. Stella-Jones also provides industrial products and services for construction and marine applications, as well as residential lumber to retailers and wholesalers for outdoor 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. As a result, readers are advised that actual results may differ from expected results.
George T. Labelle, C.A.
Senior Vice-President and Chief Financial Officer
Martin Goulet, CFA