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Report Date : |
09.08.2013 |
IDENTIFICATION DETAILS
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Name : |
TEMBEC INC |
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Registered Office : |
800 Bld Rene Levesque, Ste 1050, Montreal, Quebec H3B 1X9 |
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Country : |
Canada |
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Year of Establishment : |
1972 |
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Legal Form : |
Public Company |
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Line of Business : |
Subject engaged in the production and sale of forest, pulp, and paper
products |
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No. of Employees : |
3,700 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
NOTES
:
Any query related to this report
can be made on e-mail: infodept@mirainform.com while quoting report
number, name and date.
ECGC Country Risk Classification List – March 31st,
2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Canada |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
CANADA - ECONOMIC OVERVIEW
As an affluent, high-tech industrial society in the trillion-dollar class, Canada resembles the US in its market-oriented economic system, pattern of production, and affluent living standards. Since World War II, the impressive growth of the manufacturing, mining, and service sectors has transformed the nation from a largely rural economy into one primarily industrial and urban. The 1989 US-Canada Free Trade Agreement (FTA) and the 1994 North American Free Trade Agreement (NAFTA) (which includes Mexico) touched off a dramatic increase in trade and economic integration with the US its principal trading partner. Canada enjoys a substantial trade surplus with the US, which absorbs about three-fourths of Canadian exports each year. Canada is the US's largest foreign supplier of energy, including oil, gas, uranium, and electric power. Given its great natural resources, highly skilled labor force, and modern capital plant, Canada enjoyed solid economic growth from 1993 through 2007. Buffeted by the global economic crisis, the economy dropped into a sharp recession in the final months of 2008, and Ottawa posted its first fiscal deficit in 2009 after 12 years of surplus. Canada's major banks, however, emerged from the financial crisis of 2008-09 among the strongest in the world, owing to the financial sector''s tradition of conservative lending practices and strong capitalization. Canada achieved marginal growth in 2010-12 and plans to balance the budget by 2015. In addition, the country''s petroleum sector is rapidly becoming an even larger economic driver with Alberta''s oil sands significantly boosting Canada''s proven oil reserves, ranking the country third in the world behind Saudi Arabia and Venezuela.
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Source : CIA |
Company name: TEMBEC INC.
Address: 800 Bld Rene Levesque, Ste 1050,
Montreal, Quebec H3B 1X9
Canada
Telephone: +1
517-871-0137
Fax: +1 517-397-0896
Website: www.tembec.com
Corporate ID#: 4461851
State: Federal
Judicial form: Public Company (TMX = TMB)
Date incorporated: 01-16-2008
Date founded: 1972
Stock: 100,000,000
shares issued and outstanding.
Value: No
par value
Name of manager: James
M. LOPEZ
Business:
Holding Company
Tembec Inc., an integrated forest products company, with its
subsidiaries, engages in the production and sale of forest, pulp, and paper
products worldwide.
The group operates in four segments: Forest Products, Specialty
Cellulose and Chemical Pulp, High-Yield Pulp, and Paper.
The Forest Products segment produces and sells a range of forest
products comprising spruce, pine, and fir lumber; specialty wood; and
engineered wood to large retailers, industrial end-users, and distributors.
The Specialty Cellulose and Chemical Pulp segment engages in the
manufacture and marketing of specialty cellulose and chemical pulps, including
the transformation and sale of resins and pulp by-products.
The High-Yield Pulp segment is involved in the manufacture and marketing
of hardwood high-yield paper pulps.
The Paper segment produces and sells coated bleached board for use in
commercial printing; and newsprint for the publication of daily newspapers.
Tembec Inc. was founded in 1972 and is headquartered in Montreal, Canada
Staff: 3,700
Operations & branches:
At the headquarters, we
find the corporate office, on lease.
The Company maintains a
branch located:
10 Chemin Gatineau
Temiscaming, Quebec J0Z 3R0 – Canada
Shareholders:
The Company is listed with
the Toronto Stock Exchange under symbol TMB.
Management:
James M. LOPEZ has been the Chief Executive Officer and President of
Tembec Inc. since January 26, 2006 and January 27, 2006 respectively and of its
subsidiary Tembec Industries, Inc.
Mr. Lopez served as an Executive Vice President and President of Forest
Products Group of Tembec Inc. from August 2003 to January 26, 2006 and of its
subsidiary Tembec Industries, Inc. Mr. Lopez served as an Executive Vice
President and Resources Management of Tembec Inc. and Tembec Industries, Inc.
from 1999 to August 2003. Mr. Lopez served as Chairman of the Ontario Forest
Industry Association (OFIA), of the Forest Engineering Research Institute of
Canada (FERIC), and of WoodWorks Canada Corp. He serves as Vice Chairman of the
Forintek Canada Corp. He has been Director of Tembec Inc. since February 29,
2008 and has been Director of Tembec Industries, Inc. since January 2006. Mr.
Lopez joined Tembec in 1989 and has held a number of operating and staff roles
of increasing responsibility, including the management of a number of its
business units. He also served as Director of Tembec Inc. from January 26, 2006
to February 29, 2008.
He holds Bachelor Degree of Economics from California University of
Pennsylvania.
Dennis ROUNSVILLE has been Executive Vice President of Tembec Inc. since
January 27, 2006 and serves as President of Forest Products Group.
Directors include James M. LOPEZ, Norman M. BETTS, Lorie WAISBERG,
Francis Matthew SORICCO, James E. BRUMM, David John STEUART, James
Norris CHAPMAN, James V. CONTINENZA, Michel DUMAS, Jacques LEDUC, Pierre
LORTIE.
As far as we know, they are involved in other corporations, including:
Subsidiaries
And partnership:
- INDUSTRIES TEMBEC INC
- TEMBEC COMPANIE DE CONSTRUCTION INC
- PLACEMENTS TEMBEC
…
On attachment:
- 10K 2012 (fiscal year
ending September 2012)
- 3rd 10Q 2013
On August 1, 2013, Tembec Inc. reported consolidated unaudited earnings results
for the third quarter and nine months ended June 29, 2013.
For the quarter, the company reported sales of CAD 399 million compared
to
CAD 415 million a year ago. Operating earnings were CAD 17 million
compared to CAD 14 million a year ago. Net loss was CAD 4 million compared to
CAD 5 million a year ago. Basic and diluted net loss per share was CAD 0.04
compared to CAD 0.05 a year ago. Cash flow from operating activities was CAD 16
million compared to CAD 16 million a year ago. Additions to property, plant and
equipment was CAD 1 million compared to CAD 24 million a year ago.
Operating earnings before depreciation, amortization and other items
(adjusted EBITDA) was CAD 30 million compared to adjusted EBITDA of CAD 27
million a year ago and adjusted EBITDA of CAD 24 million in the prior quarter.
For the nine months, the company reported sales of CAD 1,182 million
compared to CAD 1,223 million a year ago. Operating earnings were CAD 16
million compared to CAD 9 million a year ago. Loss before income taxes were
CAD 24 million compared to CAD 18 million a year ago.
Net loss was CAD 40 million compared to CAD 35 million a year ago. Basic
and diluted net loss per share was CAD 0.40 compared to CAD 0.35 a year ago.
Cash flow from operating activities was CAD 26 million compared to CAD 2
million a year ago.
Banks: Banque de Montreal
…
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: Several