STELLA-JONES PROVIDES COVID-19 IMPACT UPDATE ON ITS NORTH AMERICAN OPERATIONS
March 25 2020 - 8:53PM
Stella-Jones Inc. (TSX: SJ) (“Stella-Jones” or the “Company”) today
provided an update on its North American operations in the face of
the Covid-19 pandemic and orders issued by Canadian provincial and
U.S. state authorities.
Stella-Jones confirmed that while certain
government authorities have ordered the closure or minimization of
all non-essential business operations in regions where it operates,
the Corporation falls within the exemptions for essential
workplaces, businesses that provide priority services and
activities and workforces that carry out critical manufacturing. It
therefore plans to continue operations at all of its North America
treating facilities and supporting distribution networks while
being mindful of potential impacts in light of the current
context.
“Stella-Jones carries out essential services as
a manufacturer of pressure treated wood railway ties necessary for
the operation and maintenance of transportation systems and
critical infrastructure. As a producer of utility poles, our
products remain crucial for the delivery of electrical distribution
and transmission by utilities. Our position as a leading lumber
supplier requires us to provide products essential to construction
services in the residential sector and to ensure continuity of
supply of forestry products critical to multiple facets of the
economy,” said Eric Vachon.
“We continue to be committed to the health and
safety of our employees, business partners and communities where we
operate and are applying comprehensive and rigorous hygiene
policies and practices throughout the organization. Stella-Jones
will maintain full adherence to measures put in place by applicable
government authorities while fulfilling its responsibility to
continue operations to allow critical businesses to operate
resiliently during the Covid-19 Pandemic response.”
ABOUT STELLA-JONESStella-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 and timbers, and the
continent’s electrical utilities and telecommunication companies
with utility poles. Stella-Jones also manufactures and distributes
residential lumber and accessories to retailers for outdoor
applications, as well as industrial products for construction and
marine applications. The Company’s common shares are listed on the
Toronto Stock Exchange.
CAUTION REGARDING FORWARD-LOOKING
INFORMATIONExcept 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, the rapid evolution of the Covid-19 pandemic, the
various orders that may be issued or measures that may be imposed
by governmental authorities in reaction to the Covid-19 pandemic,
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. Unless required to do so
under applicable securities legislation, the Company does not
assume any obligation to update or revise forward-looking
statements to reflect new information, future events or other
changes after the date hereof.
Source: |
Stella-Jones Inc. |
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Contacts: |
Eric Vachon, CPA,
CA |
Silvana Travaglini, CPA,
CA |
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President and Chief Executive
Officer, Stella-Jones |
Senior Vice-President and Chief
Financial Officer, Stella-Jones |
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Tel.: (514) 940-3903 |
Tel.: (514) 940-8660 |
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evachon@stella-jones.com |
stravaglini@stella-jones.com |
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