Goodfellow and Groupe Lebel Cambium to create pressure treated wood manufacturing company
August 19, 2015 - Goodfellow Inc. has signed of a letter of intent to form a treated wood manufacturing company. Goodfellow Inc. and Groupe Lebel Cambium will be joint shareholders of the company, which will consist of seven wood treating plants to better serve markets in Ontario, Quebec and the Atlantic Provinces.
Group Lebel Cambium's four plants located in Bancroft and Caledon, Ont. and Dégelis and St-Joseph, Que. will be combined with Goodfellow's three plants in Delson, Que., Elmsdale, N.S. and Deer Lake, Nfld. to form a new business unit focused on operational excellence. The company becomes one of the largest producers of treated wood in Eastern Canada with an unrivaled geographic coverage.
In conjunction with the creation of the new company, Goodfellow Inc. receives the exclusive mandate to market and distribute the entire production of the company. This transaction will enhance the strengths of both partners to better serve the pressure treated wood customers throughout Eastern Canada.
This transaction is expected to close in the fourth quarter 2015 and is subject to customary closing conditions.
About Goodfellow Inc.
Goodfellow Inc. is one of eastern Canada's largest independent re-manufacturers and distributors of lumber and hardwood flooring products. Goodfellow shares trade on the Toronto Stock Exchange under the symbol GDL.
About Groupe Lebel
Groupe Lebel Inc is an important privately-owned Company operating sawmills and value-added wood products fabrication. Groupe Lebel's plants are mainly located in Eastern Quebec, in Dégelis, Squatec, Price ant St-Just de Bretenières. www.groupelebel.com. For more details, please go to www.goodfellowinc.com and www.groupelebel.com.