March 16, 2012 / 2:57 PM / in 6 years

UPDATE 1-Tembec to upgrade Quebec cellulose plant capacity

March 16 (Reuters) - Canadian forestry company Tembec Inc said it will invest C$190 million in its Quebec facility to raise its annual production capacity of specialty cellulose by 5,000 metric tonnes.

The company will install new equipment like high pressure boilers and electricity turbines at the plant located in Temiscaming, Québec, as part of the first phase of a two-stage expansion.

Tembec, which produces lumber, paper and pulp, said the new boiler is scheduled to start up in December 2013 and the turbine in May 2014.

In the second phase, the company will invest another C$120 million in 2014-2015, raising the plant’s annual production capacity by a further 30,000 metric tonnes to 345,000 metric tonnes, the company said.

Shares of the Quebec-based company were trading up 2.5 percent at C$3.72 on Friday on the Toronto Stock Exchange.

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