Goodfellow Inc.

Goodfellow Inc.

June 23, 2005 10:02 ET

Goodfellow to Study Income Trust Opportunity

DELSON, QUEBEC--(CCNMatthews - June 23, 2005) - At its meeting on June 16, 2005, the Board of Directors of Goodfellow Inc. (TSX:GDL) resolved to study the question as to whether converting the Company into an income trust was desirable and in the long term interest of the Company and its shareholders.

The Board concluded that, as the fiduciary for the shareholders, and in the light of recent steps by other companies in the same industry, that it should study the advantages and disadvantages of converting the Company to an Income Trust. Any decisions to be taken will be taken after such a study, in which the interests of all shareholders, employees, clients and the long-term future of the Company will be paramount. It is emphasized that no decision has been taken at this moment and that it is entirely possible that the Company may decide not to proceed with this step.

Goodfellow is Eastern Canada's largest independent re-manufacturer and distributor of lumber products and the largest distributor of hardwood flooring products in Canada. Goodfellow's shares trade on the Toronto Stock Exchange under the symbol "GDL".

Contact Information

  • Goodfellow Inc.
    Richard Goodfellow
    President and C.E.O.
    (450) 635-6511
    (450) 635-3730 (FAX)