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Tembec Suspends Operations at its Sawmill

Montreal, Quebec, Canada 01 February 2016 -- As of February 8, 2016, Tembec will suspend operations at its Senneterre sawmill for an indefinite period due to the persistent weakness in the North American softwood lumber market and the high cost of wood supply in the Abitibi-Témiscamingue region. This represents 148 direct jobs at Tembec.

"The suspension of operations is related to the current low-selling prices of stud lumber, combined with the high cost of wood supply. While this is difficult for our employees, contractors and the communities affected, this decision is necessary to minimize losses," said James Lopez, Tembec's President and Chief Executive Officer. "We continue to carefully assess the evolution of market conditions and to work with the Government of Québec to find solutions to the high cost of fiber."

Tembec is a manufacturer of forest products - lumber, pulp, paper and specialty cellulose - and a global leader in sustainable forest management practices. Principal operations are in Canada and France. Tembec has approximately 3,250 employees and annual sales of approximately $1.5 billion. Tembec is listed on the Toronto Stock Exchange (TMB).


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