Industries Parent starts business operations and reopens two lumber mills in Mauricie

Investments totalling $21.5 M and 300 workers recalled

PARENT, QC, Nov. 4, 2011 /CNW Telbec/ - Industries Parent officially started business operations today during a ceremony held at the Parent Sawmill and attended by Julie Boulet, Minister of Employment and Social Solidarity and Minister responsible for the Mauricie region. Industries Parent invested $21.5 million, including a $12.75-million loan from Investissement Québec and a $5.5-million loan from the Business Development Bank of Canada, to upgrade and reopen two mills that had been closed for approximately two years. This investment will see some 300 employees return to work: 90 at the Parent Sawmill, 40 at the finger-joint mill in Trois-Rivières and some 170 forestry workers.

"All parties - the Government of Québec, Minister Julie Boulet, our financial partners, the Municipality of La Tuque, local development organizations, the union and workers - mobilized to reopen these mills. We would like to thank them for their support, which has translated into quality jobs for some 300 people in the region," said Daniel Archambault, Executive Vice President and Chief Operating Officer, Industrial Products Division of Kruger.

"We are proud of this innovative, solid business plan. By capitalizing on the complementary nature of operations at the sawmill and the finger-joint mill, Industries Parent's structure will provide us with maximum flexibility to expand our product lines and break into new markets in Canada and the United States," said Claude Perron, Chairman and Chief Executive Officer of Industries Parent.

About Industries Parent

Industries Parent was founded in 2011 when the assets of Kruger's sawmill in Parent were merged with those of Industries Perron's finger-joint mill in Trois-Rivières. It manufactures value-added lumber products, including finger-jointed lumber and lumber of varying lengths for several markets in Canada and the United States.

SOURCE KRUGER INC.

For further information:

Jean Majeau
Senior Vice President
Corporate Affairs and Communications
Tel.: (514) 343-3213
jean.majeau@kruger.com
www.kruger.com

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KRUGER INC.

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