Forest products company Tembec, which operates a pulp mill in northern B.C, has reported a loss of $12 million for the three months ending in December.
The period is considered the first quarter for the company, whose fiscal year runs from October to September, unlike most companies whose fiscal year matches the calendar year.
The first-quarter was slightly worse than the same period in 2009 when Tembec lost $9 million.
However, sales were up in the first quarter of 2010 at $422 million compared to sales of $412 in 2009.
The company cited the rise in the Canadian dollar compared to the U.S. currency, and maintenance down time at some of its mills, as a reason for the loss.
The company said it expects results to improve this year.
Tembec also provided details of a fire last year at its Chetwynd pulp mill in northern B.C.
The fire and related damages were concentrated in the log storage and chip pile area.
The mill was down for about two weeks and resumed production at a reduced rate.
It returned to full production on Sept. 22.
The total amount of lost production during the September quarter was approximately 17,400 tonnes.
