Tembec predicts higher prices, but jobs safe

MONTREAL — Tembec says it expects to have to pass on some of the costs of the new U.S. lumber duties to customers. At the same time, CEO James Lopez said that the higher prices would help guard against job losses, though the position could change if prices drop, particularly in Quebec. Tembec reported Q2 earnings of $24 million, or 24 cents per share, compared to $27 million a year ago, with a slight increase of sales to $387 million.