Winter affects Tembec Q1 earnings

MONTREAL — Winter weather and a weak loonie contributed to losses for forestry company Tembec, which saw sales fall to $348 million from $362 million last year. The company experienced a net loss of $40 million, increasing from a loss of $28 million in the same period last year. The results include a loss of $38 million related to debt denominated in U.S. dollars, which have gained on the Loonie, partially offsetting the positive effect of higher sales generated by the lower Canadian dollar.