(Canada) Tembec has announced the extension of the indefinite idling of paper machine #3 at its Kapuskasing, Ontario, newsprint mill, following the initial idling in October 2007. Paper machine #3 has an annual capacity of 100,000 tonnes.
“The extended idling of paper machine #3 is driven by a shortage of economic fibre supply. The low operating rates of regional sawmills in Northern Ontario, stemming from the dramatic decline in the level of U.S. housing starts, continues to restrict the availability of fibre,” said Chris Black, Senior Vice President, Newsprint Division. “Over the long term, the issue will be the availability of economic fibre, the overall cost competitiveness of the site and the dynamics of the North American newsprint market.”
In addition, Management has also proceeded with an internal reorganization to adapt to current and foreseen operating levels at the mill. Today’s decisions will affect approximately 40 unionized and staff employees.
Management has met with employees to inform them of the Company’s decisions.
Tembec is a large, diversified and integrated forest products company which stands as the global leader in sustainable forest management practices. With operations principally located in North America and in France, the Company employs approximately 8,000 people. Tembec’s common shares are listed on the Toronto Stock Exchange under the symbol TMB and warrants under TMB.WT. Additional information on Tembec is available on its website at www.tembec.com.
Comment on this story Bookmark this story
“The extended idling of paper machine #3 is driven by a shortage of economic fibre supply. The low operating rates of regional sawmills in Northern Ontario, stemming from the dramatic decline in the level of U.S. housing starts, continues to restrict the availability of fibre,” said Chris Black, Senior Vice President, Newsprint Division. “Over the long term, the issue will be the availability of economic fibre, the overall cost competitiveness of the site and the dynamics of the North American newsprint market.”
In addition, Management has also proceeded with an internal reorganization to adapt to current and foreseen operating levels at the mill. Today’s decisions will affect approximately 40 unionized and staff employees.
Management has met with employees to inform them of the Company’s decisions.
Tembec is a large, diversified and integrated forest products company which stands as the global leader in sustainable forest management practices. With operations principally located in North America and in France, the Company employs approximately 8,000 people. Tembec’s common shares are listed on the Toronto Stock Exchange under the symbol TMB and warrants under TMB.WT. Additional information on Tembec is available on its website at www.tembec.com.
Comment on this story Bookmark this story
PaperIndex Times is Powered by
Comments