Tembec

Tembec Inc.
Public
Traded as TSX: TMB
Industry Paper and paper products
Fate Acquired by Rayonier Advanced Materials
Founder Frank Dottori
Defunct 2017
Headquarters Montreal, Quebec, Canada
Key people
 James Lopez
Number of employees
 3000 (2017)
Website www.tembec.com
Tembec mill in Kapuskasing.

Tembec Inc. was a paper company in Canada Founded by Frank Dottori. Tembec had approximately 3000 employees[1] located in Canada, United States, and France. Tembec's operating divisions included Forest Products, Pulp, Paper & Paperboard, and Chemicals.

The Forest Products Group comprised 31 manufacturing operations producing softwood lumber, engineered wood products, and specialty wood products. The Pulp, Paper & Paperboard Group consisted of 9 pulp manufacturing plants, 5 paper manufacturing plants and 1 paperboard plant. The Chemicals group produced resins, ethanol and lignin from the pulping discharge in five of its pulping plants.

In May 2017, it was announced that Tembec had agreed to a takeover offer by Rayonier Advanced Materials for CAD $320 million.[2] In July, Rayonier's offer was raised to CAD $475 million.[3] The deal closed in November.[4]

Company creation

Tembec was created in 1973 in the town of Témiscaming, in Quebec near the border of Ontario. The town's economic lifeblood, a pulp mill owned by a large multinational corporation, CIP, was shut down in 1972. The mill's former employees and Temiscaming residents gained national attention in their fight to save their jobs, and their efforts created a unique and unprecedented relationship among entrepreneurs, unionized employees, the community and several levels of government. The mill was purchased and Tembec came into being.

References

  1. ↑ "Tembec's U.S. subsidiary to liquidate four years after closing Louisiana mill", Ross Marowits, The Canadian Press, 25 April 2011
  2. ↑ "Quebec's Tembec to be bought by Florida-based Rayonier". The Globe and Mail. May 25, 2017. Retrieved October 25, 2017.
  3. ↑ "Rayonier Advanced raises offer for Tembec to $475 million". BNN. July 24, 2017. Retrieved October 25, 2017.
  4. ↑ "New name and owner for Tembec". CBC News. Retrieved 2018-02-12.
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