Apr 29, 2009. /Lesprom Network/. Tembec posted a net loss of $99 million for its 1Q, compared to a net loss of $42 million in the months of January and February 2008 and a net loss of $17 million in the month of March 2008, as the company informed Lesprom Network. Consolidated sales for the three-month period ended March 28, 2009 were $417 million, down from $593 million in the comparable period of the prior year. The March 2009 quarterly financial results include an unfavourable adjustment of $20 million relating to the carrying values of logs, lumber and pulp inventories. At the end of March 2009, the company had net cash of $16 million plus unused operating lines of $132 million. In response to the very difficult conditions facing the forest products industry, the company has developed a focused list of initiatives that should generate approximately $100 million of incremental liquidity over the next 12 months. The recently announced sale of the St. Francisville mill site was part of these initiatives. Tembec is a large, diversified and integrated forest products company which stands as the global leader in sustainable forest management practices.