Stella-Jones Signs Definitive Agreement to Acquire Ram Forest Group
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwired) -- 06/19/15 -- Stella-Jones Inc. (TSX: SJ) today announced that it has signed a definitive agreement to purchase the shares of Ram Forest Group Inc. and Ramfor Lumber Inc. The signature of a non-binding letter of intent in respect of the proposed acquisition was reported by Stella-Jones on April 29, 2015.
Through its wholly-owned subsidiaries, Ram Forest Products Inc. and Trent Timber Treating Ltd., Ram Forest Group manufactures and sells pressure treated wood products and accessories to the retail building materials industry. Ramfor Lumber is a lumber purchasing entity serving Ram Forest Products and Trent Timber Treating.
The definitive share purchase agreement provides for a purchase price of $58.0 million which includes $15.0 million of working capital and is subject to adjustments. The transaction is expected to close in October 2015 and is subject to customary closing conditions, including regulatory clearance. The proposed timetable for the transaction has been designed to minimize disruption of Ram Forest Group's operations and ensure a seamless transition for its customers, suppliers and employees. Stella-Jones plans to finance the transaction through its existing revolving credit facility.
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, the failure to satisfy closing conditions and the failure to complete or delay in completing 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.
Contacts:
Eric Vachon, CPA, CA
Senior Vice-President and Chief Financial Officer
(514) 940-3903
Martin Goulet, CFA
MaisonBrison Communications
(514) 731-0000
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 19.06.2015 - 12:59 Uhr
Sprache: Deutsch
News-ID 401772
Anzahl Zeichen: 0
contact information:
Town:
MONTREAL, QUEBEC
Kategorie:
Forestry
Diese Pressemitteilung wurde bisher 201 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Stella-Jones Signs Definitive Agreement to Acquire Ram Forest Group"
steht unter der journalistisch-redaktionellen Verantwortung von
Stella-Jones Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
