Tembec Inc. is pleased that International Trade Minister Ed Fast has requested a panel at the World Trade Organization (WTO) to resolve the trade dispute with China on dissolving pulp.
As a result of a petition by the China pulp industry, China imposed duties on viscose dissolving pulp against selected countries including Canada . These duties negatively impact Tembec's operations and customers as we rely on market access to China for sale of viscose dissolving pulp.
Tembec supports rules-based trade of forest products as this provides our customers with predictable source of quality product, provides stability to our mills, employees and communities. "National governments should not invoke international trade remedies in an attempt to solve competitiveness issues of their domestic industry," quoted Tembec President and CEO James Lopez .
Tembec hopes dialogue between Canada and China will result in resolution of the dispute in the short term.
Tembec is a manufacturer of forest products – lumber, pulp, paper and specialty cellulose – and a global leader in sustainable forest management practices. Principal operations are in Canada and France . Tembec has approximately 3,400 employees and annual sales of approximately $1.6 billion . Tembec is listed on the Toronto Stock Exchange (TMB).
Source : http://finance.yahoo.com/