Stella-Jones Signs Agreement to Purchase Wood Pole Manufacturing Business of Texas Electric Cooperatives

Stella-Jones Inc.
September 15, 2022
Category: Business & Politics
Region: Canada, Canada East

Montreal, Quebec — Stella-Jones Inc. today announced that it has entered into a definitive agreement to purchase substantially all of the assets employed in the wood utility pole manufacturing business of Texas Electric Cooperatives (TEC), Inc. for a total purchase price of US$28M plus inventories of approximately US$4M. TEC produces southern yellow pine utility poles using Creosote and CCA preservatives at its wood treating facility in Jasper, Texas. Wood pole sales for the year ended December 31, 2021, totaled US$28 million. “This acquisition, which adds a 43rd manufacturing facility to our network, will enhance Stella-Jones’ offerings and expand our capacity to supply the growing needs of North America’s utility pole industry, while optimizing the overall efficiency of our continental network”, said Eric Vachon, President and CEO of Stella-Jones. “We look forward to welcoming the Jasper facility employees to our team of over 2,400 employees across North America.”

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