Tembec (TSX: T.TMB, Stock Forum) Friday announced the closing of the sale of its NBSK pulp mill and related assets located in Skookumchuck, British Columbia to Paper Excellence Canada Holdings, this according to a company news release.
Total consideration for the transaction is $94.6 million, including $25.5 million in working capital.
Tembec, a manufacturer of forest products, will use the cash proceeds to pay down revolving operating debt and for general corporate purposes.