Stella-Jones acquires Texas Electric Cooperatives
Monica FergusonBusiness Operations Manufacturing definitive agreement southern yellow pine Stella-Jones Texas Electric Cooperatives wood utility pole
Stella-Jones entered into a definitive agreement to purchase all assets employed in the wood utility pole manufacturing business of Texas Electric Cooperatives for a total purchase price of US$28 million plus inventories of approximately US$4 million.
TEC produces southern yellow pine utility poles using Creosote and CCA preservatives at its wood treating facility in Jasper, Texas.
“This acquisition, which adds a 43rd manufacturing facility to our network, will enhance Stella-Jones’ offerings and expand our capacity to supply the growing needs of North America’s utility pole industry, while optimizing the overall efficiency of our continental network”, said Eric Vachon, president and CEO, Stella-Jones. “We look forward to welcoming the Jasper facility employees to our team of over 2,400 employees across North America.”
The transaction is scheduled to close prior to the end of 2022.