Montreal, Quebec, Canada 27 November 2014 -- In response to UNIFOR Union Local 233's decision to go on strike effective as of 6:30 p.m. last night, Tembec ceases the operations at its Temiscaming, Quebec industrial complex, which comprises four main facilities manufacturing specialty pulp, high-yield pulp, multi-ply coated bleached board and powder and liquid phenolic resins. In addition to the production interruption, the strike will delay the commissioning activities now taking place on the high-pressure boiler and turbine.
The work stoppage involves approximately 650 unionized employees out of the 850 employees working at the Temiscaming complex. Negotiations between Tembec and the union began in August 2014. The four-year collective agreement expired on September 30, 2014.
The Company is monitoring the situation very closely and is putting into place measures to minimize the impact on its customers.
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 3,500 employees and annual sales of approximately $1.6 billion. Tembec is listed on the Toronto Stock Exchange (TMB).
This press release includes "forward-looking statements" within the meaning of securities laws. Such statements relate, without limitation, to the Company's or management's objectives, projections, estimates, expectations or predictions of the future and can be identified by words such as "may", "will", "could", "anticipate", "estimate", "expect" and "project", the negative or variations thereof, and expressions of similar nature. Forward‑looking statements are based on certain assumptions and analyses made by the Company in light of its experience, information available to it and its perception of future developments. Such statements are subject to a number of risks and 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, including under the "risk factors" section of the Company's most recent Annual Information Form. Many of these risks are beyond the control of the Company and, therefore, may cause actual actions or results to materially differ from those expressed or implied herein. The forward-looking statements contained herein reflect the Company's expectations as of the date hereof and are subject to change after such date. The Company disclaims any intention to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable securities legislation.