Rayonier Advanced Materials takes over Tembec
The Canadian forestry company Tembec has a new name and a new owner.
The official acquisition was completed on Monday by global manufacturer Rayonier Advanced Materials.
The takeover includes all of Tembec's northeastern Ontario operations in Cochrane, Chapleau, Kapuskasing and Hearst as well as 3,000 employees in Canada, the United States and France.
Louis Aucoin with Rayonier says for now, all the Tembec sites will remain forestry operations.
"They were competitors, so we have to find what one company can learn from the other, what are the markets we can deliver to with all this capacity, or are we going to change some plans to other kind of production," he said.
"This has to be known."
He says customers of Tembec won't notice a huge change.
"Customers and suppliers of course will experience maybe no change in their company contacts or services and many employees will see very few changes in their day to day roles" he said.
"Maybe some little changes, some adaptation but because we're maintaining the operations well the role of most of the employees will stay the same."
Aucoin says combining the two companies creates a global leader in high purity cellulose, which is found in cell phones and computer screens.
The company also manufactures lumber, paper and packaging.
With files from Angela Gemmill