Shearman & Sterling represented Tembec Industries Inc., a wholly owned subsidiary of Tembec Inc. (“Tembec”), in connection with a Rule 144A/Regulation S offering of $375 million aggregate principal amount of Tembec Industries Inc.’s 9% Senior Secured Notes due 2019 (the “Notes”). The Notes are guaranteed by Tembec and certain of Tembec’s current subsidiaries (other than Tembec Industries Inc.) on a senior secured basis.

Tembec is a diversified and integrated forest products company. Founded in 1972 and headquartered in Montreal, Québec with principal operations in Canada and France, Tembec is listed on the Toronto Stock Exchange under the symbol “TMB.”

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