TEMISCAMING, QC, March 13 /CNW Telbec/ - Tembec today announced a
temporary shutdown for a period of at least three months at its Béarn sawmill
located in Quebec effective March 31, 2008. The shutdown decision was based on
the lack of reasonably priced logs in the region and the overall depressed
"This shutdown is a reflection of the severe decline in overall market
conditions, driven primarily by the dramatic fall in the number of housing
starts in the United States and the related impact on lumber pricing. The
continued high value of the Canadian dollar against the US dollar further
aggravates these conditions," said Dennis Rounsville, Executive Vice President
and President of Tembec's Forest Products Group.
The Béarn sawmill has an annual production capacity of 110,000 Mfbm of
SPF lumber and employs approximately 150 people.
Management has already met with employees to inform them of the Company's
Tembec is a large, diversified and integrated forest products company
which stands as the global leader in sustainable forest management practices.
With operations principally located in North America and in France, the
Company employs approximately 8,000 people. 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
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 by the Company that
reflect its experience and its understanding of future developments. Such
statements are subject to a number of uncertainties, including, but not
limited to, receipt of the approvals necessary to implement the
Recapitalization, changes in foreign exchange rates, product selling prices,
raw material and operating costs, and other factors identified in the
Company's periodic filings with securities regulatory authorities in Canada
and the United States. Many of these uncertainties are beyond the Company's
control and, therefore, may cause actual actions or results to 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 otherwise.
For further information:
For further information: Richard Fahey, Vice President, Communications
and Public Affairs, (819) 627-4387, firstname.lastname@example.org