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STELLA-JONES PROVIDES COVID-19 IMPACT UPDATE ON ITS NORTH AMERICAN OPERATIONS

  • Facilities remain open as deemed essential to transportation, energy, communications and forestry sectors
  • Health and safety of employees, business partners and local communities remain highest priority
  • Continues strict adherence to hygiene and health directives imposed by public health authorities

/EIN News/ -- MONTREAL, March 25, 2020 (GLOBE NEWSWIRE) -- Stella-Jones Inc. (TSX: SJ) (“Stella-Jones” or the “Company”) today provided an update on its North American operations in the face of the Covid-19 pandemic and orders issued by Canadian provincial and U.S. state authorities.

Stella-Jones confirmed that while certain government authorities have ordered the closure or minimization of all non-essential business operations in regions where it operates, the Corporation falls within the exemptions for essential workplaces, businesses that provide priority services and activities and workforces that carry out critical manufacturing. It therefore plans to continue operations at all of its North America treating facilities and supporting distribution networks while being mindful of potential impacts in light of the current context. 

“Stella-Jones carries out essential services as a manufacturer of pressure treated wood railway ties necessary for the operation and maintenance of transportation systems and critical infrastructure. As a producer of utility poles, our products remain crucial for the delivery of electrical distribution and transmission by utilities. Our position as a leading lumber supplier requires us to provide products essential to construction services in the residential sector and to ensure continuity of supply of forestry products critical to multiple facets of the economy,” said Eric Vachon.

“We continue to be committed to the health and safety of our employees, business partners and communities where we operate and are applying comprehensive and rigorous hygiene policies and practices throughout the organization. Stella-Jones will maintain full adherence to measures put in place by applicable government authorities while fulfilling its responsibility to continue operations to allow critical businesses to operate resiliently during the Covid-19 Pandemic response.”

ABOUT STELLA-JONES
Stella-Jones Inc. (TSX: SJ) is a leading producer and marketer of pressure treated wood products. The Company supplies North America’s railroad operators with railway ties and timbers, and the continent’s electrical utilities and telecommunication companies with utility poles. Stella-Jones also manufactures and distributes residential lumber and accessories to retailers for outdoor applications, as well as industrial products for construction and marine applications. The Company’s common shares are listed on the Toronto Stock Exchange.

CAUTION REGARDING FORWARD-LOOKING INFORMATION
Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of the Company. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. Such factors may include, without excluding other considerations, the rapid evolution of the Covid-19 pandemic, the various orders that may be issued or measures that may be imposed by governmental authorities in reaction to the Covid-19 pandemic, fluctuations in quarterly results, evolution in customer demand for the Company's products and services, the impact of price pressures exerted by competitors, the ability of the Company to raise the capital required for acquisitions, and general market trends or economic changes. As a result, readers are advised that actual results may differ from expected results. Unless required to do so under applicable securities legislation, the Company does not assume any obligation to update or revise forward-looking statements to reflect new information, future events or other changes after the date hereof.

Source: Stella-Jones Inc.  
     
Contacts: Eric Vachon, CPA, CA Silvana Travaglini, CPA, CA
  President and Chief Executive Officer, Stella-Jones Senior Vice-President and Chief Financial Officer, Stella-Jones 
  Tel.: (514) 940-3903 Tel.: (514) 940-8660
  evachon@stella-jones.com stravaglini@stella-jones.com

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