MONTREAL - Forestry company Tembec (TSX:TMB) says it has reached a five-year agreement with employees at its Kapuskasing, Ont., plant.
The Montreal-based company said Wednesday a collective agreement has been reached for the newsprint mill, sawmill and forest operations, where Tembec employs 498 unionized employees.
The deal expires in April 2017.
"This agreement would not have been achieved without the support and hard work from all local union leaderships, as well as those at the national and international levels," said Marc Tremblay, Tembec Chief Negotiator.
Tembec is a manufacturer of forest products such as lumber, pulp, paper and specialty cellulose.
Its principal operations are in Canada and France. Tembec has 4,000 employees and annual sales of about $2 billion.