One of North America's largest logging companies, Tembec, has announced that it is delaying logging in one region of Northern Ontario, Canada until November 2008, another sign of the impact of slowing housing starts in the United States and the related impact on a decline in required lumber. One hundred workers are affected.
"The continued high value of the Canadian dollar against the US dollar as well as high energy and wood costs further aggravates these
conditions," concluded Dennis Rounsville, Executive Vice President and President of Tembec's Forest Products Group.
Tembec is a large, diversified and integrated forest products company which stands as the global leader in sustainable forest management practices.
With operations principally located in North America and in France, the company employs approximately 8,000 people.