MIRAMICHI (NEW BRUNSWICK) – The community of Miramichi received welcome news today as the Honourable Bernard Valcourt, Minister of State for the Atlantic Canada Opportunities Agency (ACOA) and for La Francophonie, announced federal support to assist Arbec Forest Products Inc. upgrade the former Weyerhaeuser mill at Morrison Cove in preparation for the resumption of plant operations later this year. Minister Valcourt, New Brunswick Premier David Alward and Chairman of the Board Tony Meti of Arbec Forest Products Inc. participated in joint event unveiling plans for the new Arbec facility and detailing federal and provincial support for the initiative.

“The Government of Canada’s central priority is the health of our economy, jobs and growth for Canadians. Our investment of $2 million will help Arbec Forest Products re-establish the OSB manufacturing plant in Miramichi,” said Minister Valcourt. “This project will bring significant economic benefits to this region, and will help create jobs and wealth for the great Miramichi area.”

“We are so happy that we successfully concluded a transaction with Weyerhaeuser, and we are looking forward to working with the fine people of the Miramichi region,” said Tony Meti Chairman of the Board of Arbec Forest Products.

The federal funding will help the company make the required upgrades needed to re-establish the operation of the mill. Arbec is undertaking a repair program, mill maintenance, and equipment start-up. It is expected that more than 100 jobs will be created at the mill with additional jobs created in the wood yards and in harvesting and wood delivery operations. The Arbec plant represents a long term market opportunity for private woodlot owners and will generate significant economic benefits in the region.

“The overhaul and reopening of the OSB mill by Arbec represents jobs for the people of Miramichi and new growth for the economy of this region. And jobs and growth are the top priorities of our Government,” said Tilly O’Neill-Gordon, MP for Miramichi. “The investment we’ve made today is the result of an effective partnership that has brought together key stakeholders to achieve a shared goal and in the process is bringing new hope and economic optimism to our community in these challenging economic times.”

The Government of Canada, through ACOA, is providing a $2 million repayable contribution to the project under its Business Development Program (BDP).

For more information on Canada’s Economic Action Plan, visit www.actionplan.gc.ca.

Arbec Forest Products g.p. is a private and integrated company of forest products operating in Eastern Canada. Arbec owns three sawmills and one oriented strand board (OSB) mill in Québec and one OSB mill in New-Brunswick. Arbec has harvesting rights in Québec (2,185,900 m3) and New Brunswick (277,802 m3).

At full capacity, Arbec plants directly employ 700 people and have a annual production capacity of lumber of 450 million board feet and OSB of 620 000 m3.

In the photo are, from left to right: New Brunswick Premier David Alward, Chairman of the Board at Arbec Forest Products Inc., Tony Meti, and ACOA Minister Bernard Valcourt.