TEMISCAMING, QC, June 25 /CNW Telbec/ - Tembec today announced a three
week extension to the previously announced curtailment of the Pine Falls,
Manitoba Newsprint Operations. The original curtailment, which began on June
16, was estimated to be for three weeks.
"The market for newsprint continues to be challenging. This extended
curtailment is a result of unacceptably low prices offered in some markets due
to supply and demand imbalances and the black liquor tax credits available to
some newsprint mills in the southern US," stated Chris Black, Executive Vice
President and President of the Paper Group.
The effect of the overall curtailment is expected to result in a total
reduction in production of 22,000 tonnes of newsprint. Tembec indicated it
will continue to monitor market conditions and inventory levels closely and
will adjust operating rates accordingly.
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.
This press release includes "forward-looking statements" within the
meaning of securities laws. Such statements relate to the Company's or
management's objectives, projections, estimates, expectations or predictions
of the future and can be identified by words such as "will", "anticipate",
"estimate", "expect" and "project" or variations of such words. These
statements are based on certain assumptions and analyses made by the Company
in light of its experience and its perception of future developments. Such
statements are subject to a number of risks and uncertainties, including, but
not limited to, changes in foreign exchange rates, product selling prices, raw
material and operating costs and other factors identified in our periodic
filings with securities regulatory authorities. Many of these risks are beyond
the control of the Company and, therefore, may cause actual actions or results
to materially differ from those expressed or implied herein. The Company
disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
For further information:
For further information: John Valley, Executive Vice President, Business
Development & Corporate Affairs, (416) 775-2819, firstname.lastname@example.org; Tracy
Dottori, Human Resources Manager, Forest Products Group, (819) 627-4591,