Montréal, Québec and Vancouver, British Columbia – EACOM Timber Corporation (ETR: TSX-V) (“EACOM”, or the “Company”) today confirmed that a fire was discovered in its Timmins, Ontario sawmill in the evening on Sunday January 22. The Timmins Fire Department responded quickly to the scene and the fire was brought under control. There were no injuries from the fire. The extent of the downtime at the facility will be determined once a full damage assessment is completed. The planer mill and kiln facilities as well as round wood and lumber inventories were undamaged. The planer mill, kiln and shipping operations will resume early next week to process existing rough lumber inventories. Harvesting operations are unaffected and during the assessment will be redirected as appropriate. The Timmins operations employ approximately 500 people in the mill and associated woodlands operations. Approximately 120 mill employees will be affected by the downtime. EACOM continues to be committed to its operations in Timmins and is undertaking an assessment of the current situation and its options around rebuilding. The sawmill produces approximately 12 million board feet of lumber per month. The immediate impact on the Company will be determined, once the situation is fully assessed.
Our thanks go out to the ongoing support of our employees, contractors, and City and Government officials.
EACOM Timber Corporation is a TSX-V listed company. EACOM owns seven sawmills, all located in Eastern Canada, and related tenures. The mills are Timmins, Nairn Centre, Gogama, Elk Lake and Ear Falls in Ontario, and Val-d’Or and Matagami in Quebec. The sawmills in Ear Falls, Ontario and Ste-Marie, Quebec, are currently idled. Operations in, Matagami and Val-d’or are currently on temporary shut down. EACOM also owns a remanufacturing facility and a 50% interest in an “I” joist plant.
The TSX Venture Exchange has neither approved nor disapproved the content of this press release. All director and officer appointments are subject to TSX Venture Exchange approval.
All statements in this news release that are not based on historical facts are “forward-looking statements.” While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of our control that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth under the captions “Risk Factors” of the Filing Statement dated January 8, 2010 and the current MD&A for EACOM Timber Corporation on file with the Canadian Securities Commissions.
Executive Vice‐President and Chief Financial Officer
Tel: 514-395‐0375 ext. 259