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SGF purchases La Dunière private woodland in the Gaspe peninsula from Bowater
Montréal, June 26, 2006 - Société générale de financement du Québec (SGF) is pleased to announce the acquisition from Bowater, of the private timberland covering 148,167 acres known as La Dunière, in the heart of the Gaspe Peninsula.
With this acquisition, SGF protects its investment in Temrex, a sawmill located in Nouvelle. It also ensures that this forested land of exceptional quality remains in the hands of Québec interests.
Under the agreement reached between SGF and Bowater, the land retains its purpose and the SGF guarantees Bowater an annual supply of 166,000 m3 of fibre over the next 20 years, while Bowater undertakes to fulfil its fibre exchange contracts with a few sawmills including Temrex at Nouvelle, Bois d’œuvre Cedrico Inc. and Groupe de Scieries G.D.S. Inc.
SGF aims to maintain the exceptional standards of resource management already implemented by Bowater for La Dunière, in keeping with the Québec government’s commitments to conservation, sustainable development and respect for wildlife.
« We are proud and happy to be working with Bowater to contribute to the region’s economy. This purchase is in keeping with SGF’s mission of investing directly in the forest industry in Québec, » said Pierre Shedleur, Chairman of the Board, President and General Manager of SGF.
Société générale de financement du Québec (SGF) is an industrial and financial holding company. Its mission is to carry out economic development projects, especially in the industrial sector, in cooperation with partners and in accordance with accepted requirements for profitability and the Government of Québec’s economic development policy.
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Source : Marie-Claude Lemieux
Senior Communications and Media Relations Advisor
Société générale de financement du Québec
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