Tembec recently issued a statement to clarify inaccurate information contained in newspaper articles related to the ratification of a new collective agreement with employees at operations in Temiscaming, Quebec. The coverage quoted a senior Union official as referencing a commitment to an investment program of $300 million. The Company agrees that any continuation of the concessions agreed to in the collective agreement beyond July 1, 2012 is conditional on significant future investments. However, no specific dollar amounts are referenced in the agreement.
The Company is in the process of evaluating a number of options for capital upgrades to the site aimed at maintaining and enhancing its long term competitiveness. Once this evaluation is completed, options will be brought forward to the Company’s Board of Directors. Mill capital investment plans normally span a 5 to 10 year period.
News within the industry of pulp and paper, May, 01 2025
