Société générale de financement du Québec to acquire Temrex Forest Products



    MONTREAL, Sept. 3 /CNW Telbec/ - Société générale de financement du
Québec (SGF) announces that it has concluded an agreement in principle with
Tembec to acquire the entire interest it holds in the limited partnership
Temrex Forest Products LP as well as the shares it holds in general partner
Gestion PFT Inc. The $12 million transaction is subject to a price adjustment
as well as certain conditions. SGF would hence become the sole shareholder of
Temrex.
    SGF management is pleased with this investment and has a positive outlook
for Temrex's future. "While the industry is going through a difficult period,
this sector is very important for regional economic development", says Pierre
Shedleur, SGF President and General Manager.
    Through its expertise and financial capabilities, SGF is able to
contribute actively to the economic development of Québec and its regions.

    About Temrex

    Temrex Forest Products produces and transforms softwood lumber. The
transformation complex (stemming from the grouping of the St-Alphonse and
Nouvelle sawmills) includes sawing and planing operations. With an annual
production of 150 million bd-ft of balsam and spruce, Temrex is among the main
softwood lumber producers in the Gaspésie region
(Gaspésie--Iles-de-la-Madeleine).

    About SGF

    Société générale de financement du Québec (www.sgfqc.com), an industrial
and financial holding company, has a mission to carry out economic development
projects, particularly in the industrial sector, in cooperation with partners
and in compliance with accepted profitability requirements and with the
economic development policy of the Québec government. As part of its new
mandate, SGF is authorized by the Québec government to go beyond its
traditional role as an equity investor by offering complementary solutions,
such as loans, debentures or preferred capital-share investments.
    -%SU: TAX,RNT,LBR
    -%RE: 63




For further information:

For further information: Sophie Alarie, Senior Adviser, Communications
and Media Relations, (514) 876-9368

Organization Profile

SOCIETE GENERALE DE FINANCEMENT DU QUEBEC

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890