Tembec Inc. ("Tembec") announced today that it has
reached an agreement to sell its NBSK pulp mill and related assets and
liabilities located in Skookumchuck, British Columbia to Paper Excellence
Canada Holdings Corporation ("Paper Excellence") for a purchase price
of $89 million , which includes working capital. Closing of the transaction is
expected to occur in the second calendar quarter of 2013 and remains subject to
certain conditions and regulatory approvals.
