Tangent serves the
railroad industry with treated wood products, mainly railway ties, through
facilities located in Warrior, Ala.; Terre Haute and Winslow, Ind.; Alexandria,
La., and McAlisterville, Pa. The wood preservative, creosote, is produced at its
distilleries in Terre Haute and Memphis, Tenn. Life-cycle solutions, consisting
of tie pickup and tie disposal, are carried out at three facilities in Alabama,
Minnesota and North Carolina
"Tangent has built a reputation for excellence on the basis of a corporate culture that mirrors our own," said Brian McManus, president and chief executive officer of Stella-Jones. "This strategic acquisition solidifies our position as the second largest North American railway tie provider and takes Stella-Jones to a still higher level of product offerings and services. We expect the transaction to yield appreciable synergies and to be immediately accretive to earnings."