Industrial wood products manufacturer Stella-Jones has opened the door to adding a new business line while its top boss says the Montreal-based company still has an appetite for acquisitions.
The company's three main businesses are poles, residential lumber, and railroad ties, which accounted for, respectively, 34 per cent, 28 per cent and 25 per cent of 2021 sales.
President and CEO Eric Vachon said the company still intends to make acquisitions, particularly in infrastructure-related segments (pole, railroad tie), while he was discussing fourth-quarter results.
"We also want to look at growth opportunities in adjacent business segments where we can leverage our knowledge," he said.
When asked by an analyst, Vachon would not elaborate on what businesses could potentially be added to Stella-Jones' offering.
"We're looking at how we can leverage our customer base and product offering," he said. "It's still being discussed. We're exploring different avenues. We're not ready to say more today."
The company's net income in the fourth quarter was $22 million, or 34 cents per share, compared to $34 million, or 52 cents per share, in the same period last year.
Revenues were $545 million, compared to $533 million in the same period last year.
-- This report by The Canadian Press was first published in French on March 9, 2022.
