Nov 25, 2013. /Lesprom Network/. Tembec completes sale of approximately 7,150 hectares of land located within the Regional District of East Kootenay, British Columbia, to Teck Resources Limited. Total consideration for the transaction was $19 million, as the company said in the press release received by Lesprom Network.

The transaction is part of the previously announced BC Land Sale Initiative. The Company has set an objective of realizing up to $75 million in land sales by December 2014. To date, the Company has realized a total of $23.2 million. The Company will provide regular updates on the BC Land Sale Initiative as it progresses.

Tembec is a manufacturer of forest products - lumber, pulp, paper and specialty cellulose - and a global leader in sustainable forest management practices. Principal operations are in Canada and France.