Tembec completes sale of shuttered Chetwynd, British Columbia, pulp mill and related assets to Paper Excellence for nominal amount; transaction includes about 80 employees

Mathew Kearney

MONTREAL , March 10, 2014 (press release) – Tembec Inc. ("Tembec") announced today that it has closed the sale of its pulp mill and related assets ("Mill") located in Chetwynd, British Columbia to Paper Excellence Canada Holdings Corporation ("Paper Excellence") for a nominal amount.

The Mill had been shut down since September 2012. Approximately 80 employees are included in the transaction. Tembec acquired the pulp mill in 2002 from Louisiana-Pacific Canada Pulp Co. and Louisiana-Pacific Ltd.

Tembec is a manufacturer of forest products - lumber, pulp, paper and specialty cellulose - and a global leader in sustainable forest management practices. Principal operations are in Canada and France. Tembec has some 3,500 employees and annual sales of approximately $1.6 billion. Tembec is listed on the TSX (TMB).

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