Nov 15 (Reuters) - Canadian forestry company Tembec Inc posted a fourth-quarter loss, hurt by low demand for chemical pulp and newsprint.
The company, which produces lumber, paper and pulp, posted a loss of C$17 million, or 17 Canadian cents a share, compared to a net income of C$2 million, or 2 Canadian cents a share, in the prior-year quarter.
Total sales fell about 5 percent to C$421 million.
Sales at the company’s fast-growing dissolving pulp segment fell almost 4 percent to C$180 million on lower shipments, but the company said it expects markets for specialty dissolving pulp to remain very strong and sees higher pricing for next year.
Quebec-based Tembec, which supplies the North American housing space with spruce-pine-fir lumber, said its forest products segment saw a rise of almost 6 percent to C$121 million in sales, helped by higher shipments.
However, it expects the forest products segment to continue with sluggish U.S. demand for lumber and poor pricing.
Shares of the company were down 3 percent to C$2.67 in morning trade on the Toronto Stock Exchange. (Reporting by Arnav Das Sharma in Bangalore; Editing by Esha Dey)