Tembec closes NBSK pulp mill sale

Stockhouse Editorial
0 Comments| May 17, 2013

Tembec (TSX: T.TMB, Stock Forum) Friday announced the closing of the sale of its NBSK pulp mill and related assets located in Skookumchuck, British Columbia to Paper Excellence Canada Holdings, this according to a company news release.  

Total consideration for the transaction is $94.6 million, including $25.5 million in working capital.

Tembec, a manufacturer of forest products, will use the cash proceeds to pay down revolving operating debt and for general corporate purposes.  

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