June 02, 2005 17:21 ET
WESTMOUNT, QUEBEC--(CCNMatthews - June 2, 2005) - Stella-Jones Inc. (TSX:SJ) announces that it is presently considering the acquisition of the assets of Webster Wood Preserving Company ("Webster"). Webster is a limited partnership located in Bangor, Wisconsin, engaged in the production and marketing of pressure treated wood railway ties. For its last fiscal year ended September 30, 2004, Webster reported sales of approximately US$25,000,000.
The parties have entered into a non-binding letter of intent. It is anticipated that the proposed transaction, if finalized, would close by the end of July 2005.
Stella-Jones Inc. is a leading Canadian producer and marketer of industrial structures and support components produced with pressure treated wood products, specializing in the production of treated wood poles supplied to electrical utilities and telecommunications companies on both a national and international basis. Other principal products include railway ties, marine and foundation pilings, construction timbers, highway guardrail posts and treated wood for bridges. The Company also specializes in providing customized services to lumber companies and wholesalers for the treatment of consumer lumber products for outdoor applications. The Company's common shares are listed on the Toronto Stock Exchange.
STELLA-JONES INC.Mr. George LabelleSenior Vice-President & CFO(514) 934-8665www.stella-jones.com
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