22 April 2010

Stella-Jones completes acquisition of Tangent Rail Corporation

Stella-Jones Inc., majority owned joint venture company between leading British timber supplier James Jones & Sons Ltd and Stella International SA, has completed the acquisition of Tangent Rail Corporation, a provider of treated wood sleepers to the railroad industry. This strategic, US$165.0 million, acquisition expands Stella-Jones' capabilities within the U.S. railway market and also provides the company with coal tar.
The acquisition was finalized on 1st April, 2010 and means that Stella-Jones' North American wood treatment infrastructure now consists of 19 facilities.
Brian McManus, President and Chief Executive Officer for Stella Jones Inc. commented:
"Tangent has built a reputation for excellence on the basis of a corporate culture that mirrors our own. This strategic acquisition solidifies our position as the second largest railway tie provider in North America and takes Stella-Jones to an even higher level of product offering and services".