Stella-Jones Announces Construction of a New Wood Treating Facility in Georgia
November 08 2012 - 7:00AM
Marketwired
Stella-Jones Inc. (TSX:SJ) today announced that it has begun
construction of a new wood treating facility on a 40-acre tract of
land in Cordele, Georgia, approximately 225 kilometers (140 miles)
south of Atlanta. The project represents an investment of
approximately US$11.0 million for Stella-Jones.
The Cordele facility will be primarily devoted to the production
of railway ties, with an ultimate annual capacity of two million
ties. Initial wood trimming activities are expected to begin in
early January 2013, while treating activities should begin near
mid-year. At start-up, the facility will provide work for an
estimated 26 employees, and have in excess of 50 employees at full
capacity.
"The City of Cordele is strategically located between the two
fastest growing markets in the south-eastern U.S., namely Florida
and the Atlanta metropolitan area. The region is well serviced by
Class 1 railroad companies and several regional short-line
railroads. This addition to our network will further enhance our
product and service offerings to the railroad industry," said Brian
McManus, President and Chief Executive Officer of Stella-Jones.
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, timbers and
recycling services; and the continent's electrical utilities and
telecommunications companies with utility poles. Stella-Jones also
provides industrial products and services for construction and
marine applications, as well as residential lumber to retailers and
wholesalers for outdoor applications. The Company's common shares
are listed on the Toronto Stock Exchange.
Except for historical information provided herein, this press
release may contain information and statements of a forward-looking
nature concerning the future performance of the Company. These
statements are based on suppositions and uncertainties as well as
on management's best possible evaluation of future events. Such
factors may include, without excluding other considerations,
fluctuations in quarterly results, evolution in customer demand for
the Company's products and services, the impact of price pressures
exerted by competitors, the ability of the Company to raise the
capital required for acquisitions, and general market trends or
economic changes. As a result, readers are advised that actual
results may differ from expected results.
Contacts: Source: Stella-Jones Inc. Contacts: Eric Vachon, CPA,
CA Senior Vice-President and Chief Financial Officer (514)
940-3903evachon@stella-jones.com Martin Goulet, CFA MaisonBrison
Communications (514) 731-0000martin@maisonbrison.com
Stella Jones (TSX:SJ)
Historical Stock Chart
From Jun 2024 to Jul 2024
Stella Jones (TSX:SJ)
Historical Stock Chart
From Jul 2023 to Jul 2024