Tembec Inc. ("Tembec") employs over 3000 in its operations in Quebec and Ontario, and strongly supports the Softwood Lumber Agreement for the stability and predictability of US Market Access that it provides for our customers, our employees and the many communities in which we operate. Thanks to the Softwood Lumber Agreement, lumber exports are free of export tax or quotas today and for the majority of the past year, resulting in a resurgence of exports from Ontario and notably Quebec.
Recent media reports have made broad generalizations about the views of the Quebec forestry industry, we would like to correct the record.
As recently as this week, the Softwood Lumber Agreement again proved its effectiveness in supporting the interests of the Quebec and Ontario forestry industry. On March 26, 2014, a Softwood Lumber Agreement Tribunal ruled in favor of Canada, resolving an ongoing dispute with the United States over when a 2011 award issued by the same Tribunal is satisfied. This demonstrates Canada's close relationship with the United States and its ability to efficiently resolve matters related to the Softwood Lumber Agreement. The embedded process in the Softwood Lumber Agreement to resolve issues as they arise between the two countries will ensure an enduring agreement.
Tembec is pleased with the ruling and appreciates the Government of Canada defending the interests of the softwood lumber industry and for its recognition of the vital economic importance this agreement has for all regions across Canada.
Tembec is a manufacturer of forest products - lumber, pulp, paper, and specialty cellulose - and a global leader in sustainable forest management practices. Principal operations are in Canada and France. Tembec has some 3,500 employees and annual sales of approximately $1.6 billion. Tembecis listed on the TSX (TMB).