Quebec wood products company Stella-Jones to pay $58 million for Ram Forest Group | iNFOnews | Thompson-Okanagan's News Source

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Quebec wood products company Stella-Jones to pay $58 million for Ram Forest Group

June 19, 2015 - 6:48 AM

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.

News from © The Canadian Press, 2015
The Canadian Press

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