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Tembec halts lumber sales for now

Canadian lumber manufacturer Tembec put a temporary halt on the sale of its lumber in North America, citing the combination of a surging Canadian dollar and declining lumber prices.

Dennis Rounsville, executive vp and president of Tembec’s Forest Group, told the Canadian Press Friday that the company was evaluating the market and was taking a couple days to assess the situation. One possibility is to introduce increased prices, a move that runs the risk of leading to market share erosion.

Temiscaming, Quebec-based Tembec is an integrated forest products company with extensive operations in North America and France. With sales of approximately $3.5 billion and some 9,000 employees, it operates 50 market pulp, paper and wood product manufacturing units.