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Tembec’s U.S. Subsidiary Files for Chapter 7 Relief
Montreal, Quebec, Canada, 25 April 2011 – Tembec's nonoperating U.S. subsidiary, Tembec USA LLC, has filed a petition seeking relief under Chapter 7 of the Bankruptcy Code of the United States. Tembec USA LLC operated a coated paper mill in St. Francisville, Louisiana. The mill was idled in July 2007 and the property and equipment subsequently sold to a third party in April 2009. Tembec USA LLC currently has obligations totalling USD 81 million and assets totalling USD 1 million.

As a result of the filing, Tembec Inc. will reduce its consolidated accrued benefit obligation by USD 9 million.

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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