Tembec Completes B.C. Land Sale

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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.

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