Rayonier Advanced Materials takes over Tembec

CBC News
November 21, 2017
Category: Business & Politics
Region: Canada, Canada East

The Canadian forestry company Tembec has a new name and a new owner. The official acquisition was completed on Monday by global manufacturer Rayonier Advanced Materials. The takeover includes all of Tembec’s northeastern Ontario operations in Cochrane, Chapleau, Kapuskasing and Hearst as well as 3,000 employees in Canada, the United States and France. Louis Aucoin with Rayonier says for now, all the Tembec sites will remain forestry operations. “They were competitors, so we have to find what one company can learn from the other, what are the markets we can deliver to with all this capacity, or are we going to change some plans to other kind of production,” he said. “This has to be known.”

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