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Tembec Considers Sale of Two Pulp Mills in France
Temiscaming, Quebec, Canada, 27  November 2009 – Tembec Inc. today confirmed that Tembec SAS, its European subsidiary, has retained the services of investment bankers Houlihan Lokey to review strategic options for the two kraft pulp mills held by subsidiaries of Tembec SAS. While still exploring other strategic options, Tembec SAS has initiated a process to explore the interest of third parties in acquiring these two mills. The mills are located in Tarascon and Saint-Gaudens, France, and have a combined capacity of 565,000 metric tons of pulp capacity. The two sites also have in excess of 70 megawatts of electrical generating capacity between them, with a portion of that being available for sale to the grid. The review of strategic options does not include the Tembec SAS specialty pulp mill located in Tartas.

Tembec is a large, diversified and integrated forest products company and a global leader in sustainable forest management practices. The company’s principal operations are located in Canada and France. Tembec’s common shares are listed on the Toronto Stock Exchange under the symbol TMB and warrants under TMB.WT. Additional information on Tembec is available at www.tembec.com.


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