Tembec closes sale of B.C. land

MONTREAL — Tembec announced the closing of the sale of approximately 7,150 hectares of land located within the Regional District of East Kootenay, BC to Teck Resources Limited, as previously announced on October 17, 2013. Total consideration for the transaction was $19 million. The transaction is part of the previously announced BC Land Sale Initiative. The company has set an objective of up to $75 million in land sales by December 2014, with a total of $23.2 million realized to date.