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Tembec shuts Kapuskasing, raises prices

Blaming historically low newsprint prices, the strengthening Canadian dollar and high energy and fiber costs in the…

Blaming historically low newsprint prices, the strengthening Canadian dollar and high energy and fiber costs in the province of Ontario, Tembec decided to shut down one of its paper machines at its newsprint facility in Kapuskasing, ON, indefinitely. The shutdown will remove an estimated 75,000 tonnes annually from the marketplace, and will result in a work force reduction of approximately 65 people.
Tembec also announced that it will be raising newsprint prices in the United States by US$50/tonne, effective February 1, 2004.