Tembec welcomes extension to SLA 2006; CEO says U.S. continues to be an important market to Tembec, that agreement gives industry predictability, certainty
January 23, 2012
– Tembec supports the extension of the Softwood Lumber Agreement and salutes the commendable cooperation between the Governments of Canada and the United States, which led to the signing of the extension of this Agreement for two years.
The 2006 Softwood Lumber Agreement was set to expire in October 2013. The two-year extension was contemplated in the original seven-year agreement and thus Canada and United States are jointly exercising this Article of the Agreement. The extended Agreement will expire in October 2015.
Tembec participated in consultations regarding the potential extension of the original Softwood Lumber Agreement. President and Chief Executive Officer James Lopez stated "Our message to the Government of Canada was that the Softwood Lumber Agreement provided our industry with much-needed predictability and certainty. We are therefore very pleased that the Minister of International Trade, Ed Fast, has negotiated the extension of this agreement." "The US market continues to be an important market to Tembec, even as we look to new markets and new products," he added.
Tembec is a large, diversified and integrated forest products company which stands as the global leader in sustainable forest management practices. The Company's principal operations are located in Canada and France. Tembec's common shares are listed on the Toronto Stock Exchange under the symbol TMB and warrants under TMB.WT. Additional information on Tembec is available on its website at www.tembec.com.