Business

Resolute Forest Products signs deal for Tembec mill in Senneterre, Que.

MONTREAL — Resolute Forest Products Inc. (TSX:RFP) has signed a deal to buy Tembec Inc.'s sawmill located in Senneterre, Que.

Financial terms of the deal were not immediately available.

Tembec says it will receive a nominal amount for fixed assets of the sawmill and the forest operations.

It is conditional on the transfer of the sawmill's wood supply from Tembec to Resolute.

Tembec says the Senneterre mill employs 124 employees, who would be transferred over to Resolute.