Tembec non-operating subsidiary makes Chapter 7 bankruptcy filing

By Caroline Salls

Pittsburgh, April 25 - Tembec Inc. non-operating U.S. subsidiary Tembec USA LLC made a Chapter 7 bankruptcy filing Monday in the U.S. Bankruptcy Court for the Middle District of Louisiana.

According to a company news release, Tembec USA operated a coated paper mill in St. Francisville, La., which was idled in July 2007.

Tembec said the mill property and equipment were sold in April 2009.

Tembec USA has $81 million of debt and $1 million of assets, according to the release.

As a result of the filing, Tembec Inc. said it will reduce its consolidated accrued benefit obligation by $9 million.

The company is represented by Paul Douglas Stewart Jr.

Tembec is a forest products company based in Temiscaming, Quebec. The Tembec USA Chapter 7 case number is 11-10585.

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