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Tembec applauds Ontario government 's extension of Northern Industrial Electricity Rate

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Tembec applauds Ontario government 's extension of Northern Industrial Electricity Rate

December 17, 2012 - 09:10
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MONTREAL, Dec. 17, 2012 (CNW) -Following last Friday's announcement by the Ontario Ministry of Northern Development and Mines to continue support for Northern Ontario Industry by extending the Northern Industrial Electricity Rate (NIER) for three years, Tembec acknowledges and applauds the commitment of this Government to sustain the resource sector, employees and communities in the region.

Tembec President and Chief Executive Officer James Lopez stated that, "partnering with the Government is helping to create an economic environment that is more favourable for our renewable resource industry, and enables forest products companies like ours to look ahead with greater confidence. In a period where controlling energy costs is essential to remaining competitive, we need to keep working together to ensure continued industrial development and to sustain jobs in Northern Ontario."

Tembec is a manufacturer of forest products - lumber, pulp, paper and specialty cellulose - and a global leader in sustainable forest management practices. Principal operations are in Canada and France. Tembec has some 4,000 employees and annual sales of approximately $2 billion. Tembec is listed on the TSX (TMB).