N@N

FIBREK AND THE SAINT-FÉLICIEN MILL EMPLOYEE UNION SIGN NEW COLLECTIVE AGREEMENT

^{Published on 2011-05-25 14:50:37 - Market Wire}
 

TSX: FBK
[ www.fibrek.com ]

LONGUEUIL,QC, May 25, 2011 /CNW Telbec/ - Mr. Pierre Gabriel Côté, President and CEO of Fibrek, is pleased to announce that the members of the Communications, Energy and Paperworkers Union of Canada (CEP, local 24-Q) have voted in favour of a new collective bargaining agreement based on the agreement in principle concluded last April 29. The new labour conditions are retroactive to May 1, 2009 and will be effective until April 30, 2014.

"This agreement is the result of a long process. The negotiations unfolded in a climate of respect, cooperation and transparency that reflects our corporate values. I applaud the openness and pragmatism shown by the union representatives throughout the negotiations. Together, we concluded an agreement that meets both parties' needs", said Mr. Côté.

The agreement contains several measures to improve the mill's productivity. The parties will work closely to implement the agreed-upon terms and conditions, in particular to achieve greater flexibility in the maintenance department, to reorganize the workforce and to improve employee training and development.

"After successfully completing this process, I believe that Fibrek is now stronger and better positionned to face its challenges. I thank and congratulate both negotiating teams for their hard work and constructive discussions leading to this agreement. It takes into account the particular context of our industry and sets the foundations to continue building a successful, competitive and sustainable organization", concluded Mr. Côté.

About Fibrek
Fibrek (TSX: FBK) is a leading producer and marketer of high-quality virgin and recycled kraft pulp. The company operates three mills located in Saint-Félicien, Québec, Fairmont, West Virginia, and in Menominee, Michigan with a combined annual production capacity of 760,000 tonnes. Fibrek has approximately 500 employees. The Saint-Félicien mill provides northern bleached softwood kraft pulp (product known as NBSK pulp) to various sectors of the paper industry mainly in Canada, the United States and Europe, for use in the production of specialized products. The Fairmont and Menominee mills manufacture air-dried recycled bleached kraft pulp (product known as RBK pulp) and primarily supply manufacturers of fine uncoated paper, tissue paper for commercial and industrial uses, and coated paper in the United States.