The sale includes industrial buildings, equipment, waterfront lands and facilities, residential communities, the new TMP mill, a waste water treatment plant, a landfill, and approximately 1,000 acres of vacant land. PFDC will seek alternative uses for the assets and site, by moving forward with land reclamation and site reconfiguration, while exploring opportunities for resale. The complex brownfield redevelopment process could take from 2-5 years to complete.

Financial details of the sale were not disclosed but Tembec said the site was sold for "nominal net proceeds" as the mill had already been written off when it was permanently closed.

On the Labour Day weekend in 2009, Tembec locked out its workers after they rejected the company's offer of cuts to their wages, pensions, and benefits. A year later, in 2010, the mill officially closed its doors and as many as 300 workers were out of a job.