DELSON, QUEBEC - Goodfellow Inc. (TSX:GDL) signed a letter of intent to form a treated wood manufacturing company with Groupe Lebel Cambium.
The company, which will consist of seven wood treating plants - Group Lebel Cambium's four plants in Bancroft and Caledon, Ontario; and those of Dégelis and St-Joseph, Quebec will be combined with Goodfellow's three plants in Delson, Qc Elmsdale, NS and Deer Lake, Newfoundland.
The new company immediately becomes one of the largest producers of treated wood in Eastern Canada.
Goodfellow supplied the pressure-treated wood used in the construction of The Monster ride at La Ronde amusement park in Montreal. Thirty years later, it remains one of the main attractions of La Ronde. Inaugurated in 1985, The Monster required close to 100,000 pieces of pressure-treated wood, the equivalent of over 20 wagons of Douglas fir from Western Canada.
Goodfellow Inc. receives exclusive market and distribution rights to the entire production of the company. The transaction is expected to close in the fourth quarter 2015. Groupe Lebel Inc is privately-owned, and operates 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
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