Goodfellow Inc.
TSX : GDL

Goodfellow Inc.
Groupe Lebel Inc.

Groupe Lebel Inc.

August 19, 2015 08:38 ET

Goodfellow Inc. and Groupe Lebel Cambium (Groupe Lebel Inc. and Lebel Cambium Inc.) Announces the Signing of a Letter of Intent to Create a Pressure Treated Wood Manufacturing Company

DELSON, QUEBEC--(Marketwired - Aug. 19, 2015) - Goodfellow Inc. (TSX:GDL) announced today the signing of a letter of intent to form a treated wood manufacturing Company. Goodfellow Inc. and Groupe Lebel Cambium will be jointly shareholders of that company which will consist of seven wood treating plants to better serve markets in Ontario, Quebec and the Atlantic Provinces. Group Lebel Cambium's four (4) plants in Bancroft and Caledon, Ont and those of Dégelis and St-Joseph, Qc will be combined with Goodfellow's three plants in Delson, Qc Elmsdale, NS and Deer Lake, Nfld to form a new business unit focused on operational excellence. The company becomes one of the largest producer of treated wood in Eastern Canada with an unrivaled geographic coverage.

In conjunction with the creation of the new company, Goodfellow Inc. receives the exclusive mandate to market and distribute the entire production of the company. This transaction will enhance the strengths of both partners to better serve the pressure treated wood customers throughout Eastern Canada.

This transaction is expected to close in the fourth quarter 2015 and is subject to customary closing conditions.

About Goodfellow Inc.

Goodfellow Inc. is one of eastern Canada's largest independent re-manufacturers and distributors of lumber and hardwood flooring products. Goodfellow shares trade on the Toronto Stock Exchange under the symbol GDL.

About Groupe Lebel

Groupe Lebel Inc is an important privately-owned Company operating sawmills and value-added wood products fabrication. Groupe Lebel's plants are mainly located in Eastern Quebec, in Dégelis, Squatec, Price ant St-Just de Bretenières. www.groupelebel.com

For more details, please go to www.goodfellowinc.com and www.groupelebel.com

Contact Information

  • Goodfellow Inc.
    Denis Fraser
    President and CEO
    450 635-6511
    450 635-3730 (FAX)
    info@goodfellowinc.com

    Groupe Lebel Inc. and Groupe Lebel Cambium Inc.
    Frederic Lebel
    President
    418-867-1695
    418-862-5054 (FAX)