Tembec announces that it has reached an agreement to sell its NBSK pulp mill and related assets and liabilities located in Skookumchuck, British Columbia (Canada) to Paper Excellence Canada Holdings Corporation for a purchase price of $89 million, which includes working capital.
Tembec expects to close the deal, which remains subject to certain conditions and regulatory approvals, in the second calendar quarter of 2013.
"This transaction supports the continuing transformation of the company and the reshaping of its business portfolio," said James Lopez, Tembec's President and CEO.
The mill, which currently employs 290 workers, started up in 1968 and has the capacity to produce about 250,000 tonnes per year of NBSK pulp.
