Tembec resigns from the Ontario Forest Industries Association
Temiscaming, Quebec, July 10, 2008 – Tembec has resigned from the Ontario Forest Industries Association (OFIA) in response to a series of inappropriate tactics including the participation in a press release issued by Ontario Forestry Coalition (OFC) today on the subject of the Endangered Species Act. The press release issued earlier today contained comments on a meeting between industry officials and the Ontario Minister of Natural Resources regarding the Endangered Species Act which none of the persons quoted had attended. As a result of this action and other actions taken by the OFIA, Tembec announced its immediate resignation from the Association.
"Recent events involving the OFIA have left Tembec no option but to fully dissociate ourselves from their tactics. Our resignation from the OFIA is effective immediately,” said James Lopez, President and Chief Executive Officer of Tembec. “The issues around resource management and endangered species are complex and the implementation of new policies, such as the Endangered Species Act, require dialogue between all stakeholders. The meeting referenced in the OFC press release, in which Tembec did participate, demonstrated the willingness by Minister Cansfield to build a forum for such open and constructive dialogue.”
Mr. Lopez characterized the comments contained in the release as a breach of trust. “The Minister had invited a number of industry representatives in to discuss a range of issues, including the ESA. To take this constructive approach by the Minister and have individuals and groups that were not even present use it in an effort to create public pressure is not an approach with which we want to be associated. We cannot condone violations of good faith and efforts to apply undue public pressure.”
Tembec is a large, diversified and integrated forest products company which stands as the global leader in sustainable forest management practices. With operations principally located in North America and in France, the Company employs approximately 8,000 people. 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 on its website at www.tembec.com.