Tembec Provides Transaction Update

Tembec Inc. (TSX: TMB) (“Tembec” or the “Company”) today provided an update in response to the recent public broadcast solicitation by Oaktree Capital Management, L.P. (“Oaktree”) in connection with the proposed acquisition (the “Arrangement” or the “Transaction”) by Rayonier Advanced Materials Inc. (“Rayonier AM”) of all of the issued and outstanding common shares of Tembec (the “Tembec Shares”).

It is important that the shareholders of Tembec (the “Tembec Shareholders”) be well informed when considering their voting decision. Consequently, the Company reiterates and highlights the following important considerations for Tembec Shareholders:

  • A comprehensive and rigorous sale process was conducted for the sale of the whole or parts of Tembec, during which many potential interested parties were provided confidential information, including current and expected financial results based on price and volume expectation across all of Tembec’s businesses;
  • No third party has made or communicated any intention to make an alternative acquisition proposal since the announcement of the Transaction;
  • The potential negative impact upon Tembec Shareholders if the Arrangement is not approved, including potential stock price decline; and
  • The reasons for the unanimous recommendation of the board of directors of Tembec (the “Board”) to vote FOR the Arrangement and its continued support of the Transaction.

read more/source: http://tembec.com/en/Media/Press-Releases/tembec-provides-transaction-update?section=investors

Related Posts

Ahlstrom-Munksjö to restart existing saturator in its Turin plant in Italy to support demand for high performance filtration media globally

Ahlstrom-Munksjö will restart one of its saturator in its Turin plant in Italy to support strong demand for high performance filtration media. “Based on current strong customer demand, we see a need to expand our saturating capacity,” said Giuseppe Costa, VP Filtration EMEA and APAC. “We have evaluated various options and came to the conclusion that restarting the saturator we already have in place in Turin is the quickest and most reliable way to bring qualified capacity to the marketplace in a very short period,” he added. This decision follows a series of investments announced by the group in the last few years to strengthen the company’s industrial platform and support demand growth in the industrial and engine filtration industry globally.

Canfor Pulp Announces Extended Production Outage at Northwood Pulp Mill

Canfor Pulp Products Inc. announced an extended outage on one production line at its Northwood Northern Bleached Softwood Kraft (“NBSK”) Pulp mill located in Prince George, British Columbia (“BC”). The outage is to enable the rebuild of the lower furnace of its number one recovery boiler (“RB1”), in order to ensure the safe and reliable operation of the boiler. The Company currently estimates that the extended downtime will be approximately 85 to 100 days, with a reduction in production of NBSK pulp of 68,000 to 80,000 tonnes and an estimated capital cost of $30 million, as well as higher associated maintenance costs. Canfor Pulp will continue to operate the second production line at the Northwood Pulp mill over this period.

Ahlstrom-Munksjö expands its Reliance® portfolio to now include its historical Dextex range of wetlaid nonwoven sterilization wraps

Ahlstrom-Munksjö's sterile barrier systems offer excellent bacterial barrier thanks to cellulosic fibers that create a tortuous path for excellent sterility maintenance of surgical instruments up to the point of use. Thanks to their features, our high-performance sterilization wraps play a key role in the prevention of hospital-acquired infections, protecting patients’ health. Dextex wetlaid sterilization wraps have a long history of use in the sterilization industry and are well recognized throughout the globe for their reliable performance. In our continuous effort to facilitate our customers and help their businesses succeed, we have decided to harmonize the wetlaid portfolio of high performance sterilization wraps in the United States under our globally recognized Reliance® brand.
Back To Top
×Close search
Search