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Tembec to cut pulp production

Tembec is looking to purge the market of 50,000 tonnes of pulp within the next three months, the Globe and Mail has…

Tembec is looking to purge the market of 50,000 tonnes of pulp within the next three months, the Globe and Mail has reported.

After posting disappointing Q4 results, the company is looking to secure what CEO Frank Dottori referred to as “pricing power,” in the New Year.

Although specific target locations for the slashed output have not been confirmed, the Globe reported that speculation has turned to Quebec and Ontario, where high energy prices maintain a chokehold on profitability.

The company lost $134.9 million in the fourth quarter, compared to a profit of $90.7 million for the same period last year.