Thursday, March 28, 2013

Tembec to sell its NBSK pulp mill in Skookumchuck, British Columbia

Tembec press release:

MONTREAL, March 26, 2013 /CNW Telbec/ - Tembec Inc. ("Tembec") announced today that it has reached an agreement to sell its NBSK pulp mill and related assets and liabilities located in Skookumchuck, British Columbia to Paper Excellence Canada Holdings Corporation ("Paper Excellence") for a purchase price of $89 million, which includes working capital. Closing of the transaction is expected to occur in the second calendar quarter of 2013 and remains subject to certain conditions and regulatory approvals.