Tembec Inc, which is due to join up with Domtar Inc in September to create Canada’s second largest lumber company, is to pay C$49.2m for two Nexfor sawmills in Québec.
Tembec chief executive Frank Dottori said acquisition of the mills at La Sarre and Senneterre was part of the company’s strategy to contribute to consolidation in the softwood lumber industry in North America.
Nexfor Inc said the sale was consistent with its intention to divest non-strategic assets and reduce debt.
