Jacksonville, Florida-based Rayonier Advanced Materials (NYSE:RYN) has reached a deal to purchase Tembec Inc., a Canadian producer of packaging and paper products, for approximately $807 million. The deal comes at a time when Canada is resisting efforts by the U.S. Department of Commerce to impose a 20 percent tariff on Canadian lumber imports.
Tembec Inc. is a Montreal, Canada-based manufacturer of forest products sold in the U.S., Canada, China, the European Union and internationally. The target produces a variety of materials comprised of spruce, pine, and fir dimensional lumber products for the residential and commercial construction industries. Tembec’s principal operations are based in Canada and France, where the company produces lumber, paper, pulp and “high purity” cellulose. Tembec employs approximately 3,000 employees.