Quebec wood products company Stella-Jones to pay $58 million for Ram Forest Group
MONTREAL – Stella-Jones (TSX:SJ) revealed Friday that it will pay $58 million to buy Ontario-based Ram Forest Group Inc. and Ramfor Lumber Inc., which manufacture and sell pressure-treated wood products.
A preliminary agreement was announced in April without an estimated price. The deal is expected to close in October.
Ram Forest operates treating facilities in Gormley and Peterborough that generated about $90 million in sales last year.
Stella-Jones had $1.25 billion in sales last year from the sale of pressure-treated ties and timbers to North American railways, utility poles to electrical utilities and telecom companies and lumber for residential customers.
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