Tembec Completes B.C. Land Sale

Tembec, Montréal, Qué., Canada, has completed the sale of approximately 7,150 hectares of land within the Regional District of East Kootenay, B.C., Canada, to Teck Resources Limited. Total consideration for the transaction was $19 million.

The transaction is part of the company’s previously announced British Columbia Land Sale Initiative. Tembec has set an objective of realizing up to $75 million in land sales by December 2014. To date, the company has realized a total of $23.2 million. The company will provide regular updates on the land sale initiative as it progresses.

Tembec is a producer of forest products – pulp, paper, lumber, and specialty cellulose. Its principal operations are in Canada and France.

TAPPI
http://www.tappi.org/