Vancouver-based Doman Building Materials says Trump's proposed tariffs will not materially impact company's businesses; company cites independent operations of its Canadian and US businesses, with neither relying materially on the other for products

November 27, 2024 (press release) –

Doman Building Materials Group Ltd (TSX:DBM)
Shares Issued 87,285,372
Last Close 11/27/2024 $9.65
Wednesday November 27 2024 - News Release

Mr. Amar Doman reports

DOMAN BUILDING MATERIALS GROUP LTD. ANNOUNCES RESPONSE TO THE RECENTLY PROPOSED U.S. TARIFFS

Doman Building Materials Group Ltd. has discussed its response to President elect Trump's proposed 25-per-cent tariffs on goods entering the United States from Canada.

Although no material details were announced in respect of the proposed United States tariffs, the company's businesses in each country generally operate independently. Accordingly, other than any business already subject to softwood lumber duties, the company does not currently expect to be impacted materially by the proposed U.S. tariffs on goods imported to the United States from Canada.

"Given the magnitude of President-elect Trump's proposed tariffs and given our growing presence in Canada and even more so in the U.S. , we want to ensure that all of our stakeholders are well informed that based on expectations today, our business would not be impacted in a material way," commented Amar S. Doman , chairman and chief executive officer. "Given we run two self-sustaining businesses on both sides of the border, with neither relying materially on the other for products, we don't anticipate an impact to our business based on what has been proposed to date."

About Doman Building Materials Group Ltd.

Founded in 1989, Doman is headquartered in Vancouver, B.C. , and trades on the Toronto Stock Exchange under the symbol DBM.

As Canada's only fully integrated national distributor in the building materials and related products sector, Doman operates several distinct divisions with multiple treating plants, planing and specialty facilities and distribution centres coast to coast in all major cities across Canada and coast to coast across the United States .

Strategically located across Canada, Doman Building Materials Canada operates distribution centres coast to coast and Doman Treated Wood Canada operates multiple treating plants near major cities. In the United States , headquartered in Dallas, Tex. , Doman Lumber operates 21 treating plants, two specialty planing mills and five specialty sawmills located in nine states, distributing, producing and treating lumber, fencing and building material servicing the central U.S. ; Doman Tucker Lumber operates three treating plants, specialty saw-milling operations and a captive trucking fleet serving the U.S. East Coast ; Doman Building Materials USA and Doman Treated Wood USA serve the U.S. West Coast with multiple locations in California and Oregon ; and, in the State of Hawaii , the Honsador Building Products Group services 15 locations across all the islands. The company's Canadian operations also include ownership and management of private timberlands and forest licences and agricultural postpeeling and pressure treating through its Doman Timber operations.

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