TEMISCAMING, QC, Sept. 25 /CNW Telbec/ - Tembec today announced a series
of coordinated temporary market-related shutdowns at its sawmills located in
Elko and Canal Flats, British Columbia.
The Elko sawmill/planer mills complex will shut down for a minimum of two
weeks commencing October 1, and the Canal Flats sawmill/planer mills will take
corresponding downtime commencing October 15.
The curtailments are in addition to existing shutdowns in Eastern Canada
at the Company's facilities in Timmins and Kirkland Lake, Ontario and La Sarre
and Béarn, Quebec.
"These shutdowns are due to a combination of factors," said
Dennis Rounsville, Executive Vice President and President of Tembec's Forest
Products Group. "These include the sharp decline in demand and prices for
lumber and the impact of the high value of the Canadian dollar."
The Canal Flats and Elko sawmills and planer mills have an annual
production capacity of 420,000 Mfbm of SPF lumber and employ approximately
Management has informed employees at all affected sites of the Company's
Tembec is a large, diversified and integrated forest products company.
With operations principally located in North America and in France, the
Company employs approximately 9,000 people. Tembec's common shares are listed
on the Toronto Stock Exchange under the symbol TBC. 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 "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, 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: John Valley, Executive Vice President, Business
Development and Corporate Affairs, (416) 775-2819; Tracy Dottori, Corporate
Manager, Organizational Development, (819) 627-4591