Stella-Jones completes offering of 2 million shares

Wendy Lisney

LOS ANGELES , February 7, 2012 (Industry Intelligence) –

North American timber products manufacturer Stella-Jones Inc. said Monday that its majority shareholder, Stella Jones International S.A., has completed a deal giving it 38.8% of Stella-Jones Inc., according to a Feb. 6 press release.

Stella-Jones, listed on the Toronto Stock Exchange, is a leading North American producer of pressure-treated wood products.

Stella Jones International sold the secondary offering of 2 million Stella-Jones common shares to a syndicate of underwriters headed by Toronto-based RBC Capital Markets. The shares were sold at C$42 per share.

Stella Jones International now owns 6,187,909 of the Stella-Jones common shares, according to the press release distributed through Marketwire.

Saint-Laurent, Québec-based Stella-Jones operates 19 facilities in 10 U.S. states and five Canadian provinces, manufacturing its core products of railway ties and utility poles, according to its website.

Stella-Jones also provides treated lumber and customized services for outdoor applications to lumber retailers and wholesalers. It also manufacturers marine and foundation pilings, construction timbers, highway guardrail posts and treated wood for bridges.

The primary source of this article is a press release from Stella-Jones Inc., Toronto, Ontario, run in Marketwire, on Feb. 6, 2012.

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