TEMISCAMING, QC, July 26 /CNW Telbec/ - Tembec today reported that a new collective agreement covering 680 unionized employees at its operations located in Temiscaming, Quebec has been ratified. Employees, who are members of the Communications, Energy and Paperworkers Union, voted on the new agreement over the last week. The new agreement is for five years and establishes a framework that will improve the competitive position of the various operations located at the Temiscaming site. A large integrated site, Temiscaming is Tembec's largest facility and produces high yield pulp, specialty dissolving pulp, coated paperboard and specialty chemical products.
"Our Temiscaming facility is one of the key sites for our Company and the ratification of this new agreement represents an important milestone. This new, long term agreement represents a key element of our long term plan for Temiscaming and demonstrates the commitment of our employees to improving the competitive position of the operations near term and to achieving critical operational and cost improvements required to support the pursuit of significant upgrades to the site," said James Lopez, President and CEO of Tembec.
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 and may not be appropriate for any purposes other than what is stated herein. 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 to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable securities legislation.
For further information: For further information: John Valley, Executive Vice President, Business Development and Corporate Affairs, Tel.: 416-775-2819, firstname.lastname@example.org; Michel J. Dumas, Executive Vice President, Finance and Chief Financial Officer, Tel.: 819-627-4268, email@example.com