July 28, 2026
CEEFC provides Large Enterprise Tariff Loan facility to Quebec-based Arbec
Financing supports major Quebec lumber company affected by tariffs and trade disruptions
July 28, 2026 – Canada Enterprise Emergency Funding Corporation (CEEFC), a subsidiary of Canada Development Investment Corporation (CDEV), today announced a $60-million Large Enterprise Tariff Loan (LETL) for Arbec Bois d’œuvre Inc. to help the Quebec forestry company maintain operations and navigate ongoing tariff-related challenges.
Arbec is a privately held subsidiary of Rémabec Group and operates eight plants in Saguenay-Lac-Saint-Jean, Mauricie, Côte-Nord. Operations include sawmilling, planning, drying, and finger joints, and, combined, facilities have traditionally employed approximately 800 people. The company’s annual timber production capacity is nearly 700 million board feet, and their lumber is used to build new homes, renovate existing homes, and build materials for shipping and logistics. Tariffs, depressed lumber prices, and other persistent U.S. trade disruptions have put extraordinary pressure on Arbec, leading to the winding down of operations at two facilities and lay off over 100 employees. CEEFC is providing Arbec with $60M in financing support, which is expected to help the company manage current pressures and maintain its operations over the medium term.
“LETL exists to help large Canadian companies navigate periods of significant economic uncertainty,” said Lorraine Audsley, President and Chief Executive Officer of CEEFC. “This financing will help Arbec remain resilient, continue investing in its operations, and strengthen the long-term competitiveness of Canada’s forestry sector in the face of evolving trade pressures.”
“Forestry and forest products have a proud and long history in Quebec, and this loan will help protect that history,” said Elizabeth Wademan, President and CEO of CDEV. “CDEV is proud, in its own way, to be able to provide expertise in complex commercial transactions that helps important companies and industries get support that helps them sustain themselves in the face of trade threats.”
“As the wood industry confronts an unprecedented crisis, the support announced today is helping Rémabec Group advance its transformation and develop a forward‑looking forest economy—one that unlocks the full potential of every fibre of a tree and delivers the most impactful portfolio of products, from lumber to biofuels, to drive the decarbonization of our economies,” said Réjean Paré, President, Rémabec Group.
The terms of LETL include an expectation that Arbec maintain current levels of employment. And that, once the market stabilizes and pricing support returns, Arbec will restore operations and jobs at one of its closed facilities. LETL provides liquidity to otherwise viable businesses, while protecting taxpayer interests. Companies interested in applying for the LETL facility can assess their eligibility and submit an enquiry form to CEEFC via the CEEFC website at https://ceefc-cfuec.ca/
Quick facts:
- CEEFC was established in 2020 by CDEV to administer emergency and strategic financing programs on behalf of the Government of Canada.
- The Large Enterprise Tariff Loan (LETL) facility was launched in 2025 to support large Canadian employers, protect Canadian jobs, business operations, and investment activities in the face of actual and potential tariffs and countermeasures.
- For over 40 years, CDEV has provided the Government of Canada with specialized financial advisory around the country’s most complex and diverse commercial interests.
About CEEFC
The Canada Enterprise Emergency Funding Corporation (CEEFC) is a subsidiary of the Canada Development Investment Corporation (CDEV). Created in 2020 during the COVID-19 pandemic, its mandate is to administer strategic financing programs on behalf of the Government of Canada. CEEFC administers strategic financing programs on behalf of the Government of Canada, including the LETL facility.
About CDEV
CDEV advances economic prosperity for Canada by delivering financial and commercial expertise that government relies on. As a self-sustaining Crown corporation operating since 1982, CDEV has become the federal government’s trusted advisor and active asset manager responsible for more than $75 Billion in strategic assets.
About Rémabec Group
Founded in 1988, the Rémabec Group is an integrated company operating in forest management, wood processing, wood product sales, and the production of green energy. A true pillar of the industry, the Rémabec Group is one of the largest sawmill operators in Québec through its various Arbec lumber mills, located in the regions of Mauricie, Saguenay-Lac‑St‑Jean, and the Côte‑Nord.