Tembec is selling its 50% stake in sawmill operation Temrex for C$12m.
The stake is being sold to Societe generale de financement du Quebec (SGF), with completion expected to be in late September.
Temrex, which has an annual production of 150 million bd ft of balsam and spruce, has been operated as a joint venture with SGF since 2002.
Tembec said the sale was part of its measures to raise an additional C$100m. It will book a C$6m gain from the transation in its September quarterly results.
