News & Analysis » Canada
Tembec Shuts Down Its Pine Falls Newsprint Mill Permanently - Quick Facts
September 3, 2010, Friday, 02:34 GMT | 21:34 EST | 07:04 IST | 09:34 SGT
(RTTNews) - Integrated forest products company Tembec Inc. (TMB.TO) on Thursday announced the permanent closure of its newsprint mill located in Pine Falls, Manitoba.
The mill had been indefinitely idled due to a labor dispute on September 1, 2009.
The company had started a sales process for the mill in early January 2010, but that proved unsuccessful.
After a thorough analysis of the situation, the company concluded that the permanent closure of the facility was the only viable option. About 230 employees will be affected.
The company said it will record a net charge of about C$8 million related to the closure in the quarter ending September 25, 2010.
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