Tembec Selling Hardwood Flooring Business

Montreal, Quebec, Canada, Nov. 22, 2011 -- Forest products company Tembec is exiting the hardwood flooring business as it shutters a 108-year operation in Huntsville, Ont., and sells another facility in Toronto to a private company for $13 million, according to the Winnipeg Free Press.

The Toronto plant, along with its Muskoka and Vintage flooring brands, will be sold within the next few weeks.

Opened in 1989, Vintage Flooring relocated its manufacturing via an acquisition to its current 6,300-square-metre facility in western Toronto.

"The sale of the hardwood flooring division is consistent with our strategy to focus on the company's core businesses," said CEO James Lopez.

Tembec's hardwood sawmill operations in Huntsville are unaffected by the transaction.