In other Tembec-related news, the company has received $4.4 million from British Columbia for its reductions in all…
In other Tembec-related news, the company has received $4.4 million from British Columbia for its reductions in allowable annual cuts related to its operations in the southeastern part of the province.
The compensation payment is part of the government’s province-wide timber reallocation process. There was an additional payment made in recognition of road and other infrastructure investments in areas affected by the reduction.
“This payment is consistent with the compensation per cubic metre applied to other companies affected by this general reduction,” said Dennis Rounsville, executive vice president and president of the Tembec forest products group. “It comes after a period of negotiation between the company and the BC Ministry of Forests and Range.”
Tembec doesn’t anticipate the allowable cut reduction will negatively impact its bottom line, as offsetting volumes will be made available through BC timber sales and other programs related to communities and First Nations tenure holders.
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