Source: LaPresse.ca
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Stella-Jones (SJ) announced that its U.S. subsidiary has acquired the shares of Cahaba Timber, Inc. for a total purchase price of US$36.5 million
  • Cahaba Timber is a well-established producer of pressure-treated poles and pilings
  • Cahaba Timber’s sales for the year ended December 31, 2020 reached approximately US$41 million
  • Stella-Jones is a leading producer and marketer of pressure-treated wood products for electrical utilities and railroad operators
  • Stella-Jones Inc. (SJ) opened trading at C$42.25 per share

Stella-Jones (SJ) announced that its U.S. subsidiary has acquired the shares of Cahaba Timber, Inc. for a total purchase price of US$36.5 million.

Cahaba Timber is a well-established producer of pressure-treated poles and pilings. Cahaba Timber’s sales for the year ended December 31, 2020, reached approximately US$41 million.

“We are excited to welcome the employees of Cahaba Timber to the Stella-Jones family,” said Eric Vachon, President and CEO of Stella-Jones.

“We expect the acquisition of Cahaba Timber to yield synergies and to be immediately accreditive to earnings as we continue to improve Stella-Jones’ ability to provide the North American utility industry with high quality treated wood products.”

Stella-Jones 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 Inc. (SJ) opened trading at C$42.25 per share.

More From The Market Herald
NanoXplore - President and CEO, Soroush Nazarpour (left)

" NanoXplore (TSX:GRA) and Molding Products LLC sign supply agreement for transportation market

NanoXplore (GRA) has signed a supply agreement with Molding Products LLC.

" Charbone Hydrogen (TSXV:CH) signs definitive agreement with Superior Propane

Charbone Hydrogen Corporation (CH) has signed an agreement with Superior Propane, a division of Superior Plus LP.

" Algoma Steel (TSX:ASTL) awards building contract to Walters Group

Algoma Steel Group (ASTL) has awarded the structural building contract for its electric arc steelmaking facility to Walters Group Inc.

" Algoma Steel (TSX:ASTL) awards building contract to Walters Group

Algoma Steel Group (ASTL) has awarded the structural building contract for its electric arc steel-making facility (EAF) to Ontario-based Walters Group Inc.