Tuesday, March 18, 2014

Stella-Jones to acquire Boatright wood treating facilities

Stella-Jones Inc. has signed a non-binding letter of intent to acquire the wood treating facilities of Boatright Railroad Products, Inc., located in Montevallo and Clanton, Ala.

 

Boatright manufactures, sells and distributes creosote and borate-treated crossties, as well as switch ties, tie plugs and bridge timbers to railroad operators.

The transaction, if finalized, is expected to close during the latter part of the second quarter of 2014 and is subject to closing conditions, including signature of a definitive asset purchase agreement and satisfactory due diligence. Stella-Jones plans to finance the transaction through existing credit facilities.

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