Cascades sells mill in France
By Canadian Packaging Staff
General Cascades Inc. linerboard mill sale Norampac OpenGate Capital Paper Sustainable packagingCascades Inc., a global leader in the recovery of recyclable materials and the manufacturing of green packaging and tissue paper products and headquartered in Kingsey Falls, Que., announced on February 18, 2011 that it had reached an agreement with OpenGate Capital, a private equity firm, for the sale of its Norampac Avot-Vallée mill to be completed on March 1, 2011.
Cascades Inc., a global leader in the recovery of recyclable materials and the manufacturing of green packaging and tissue paper products and headquartered in Kingsey Falls, Que., announced on February 18, 2011 that it had reached an agreement with OpenGate Capital, a private equity firm, for the sale of its Norampac Avot-Vallée mill to be completed on March 1, 2011.
Located in the northern France, Norampac Avot-Vallée with approximately 160 employees specializes in the manufacturing of linerboard (white Testliner) made from 100 percent recycled fibers, annually producing more than 145,000 tons.
“Since Norampac’s priority is to consolidate its leader position in North America, Cascades came to the conclusion that it would be more strategic for the group to sell the Avot-Vallée mill to a company that has the ability to ensure its development and continuity,” states Marc-André Dépin, president and chief executive officer of Norampac, a Division of Cascades Canada Inc.
Alain Lemaire, Cascades’ president and chief executive officer adds: “This transaction is part of our strategy to simplify our portfolio of assets, reduce our debt and concentrate on developing and improving the competitiveness of our key operations in packaging, tissue papers and recovery. Therefore, I wish to thank all the employees for their involvement and efforts over the past 20 years.”
About Cascades
Founded in 1964, Cascades produces, converts and markets packaging and tissue products that are composed mainly of recycled fibers. Globally, the company employs close to 12,500 people working in more than 100 units in North America and Europe. Along with its management philosophy, the company has over 45 years of experience in recycling and its continued efforts in research and development are strengths that enable it to create new products for its customers.
For more information on the company, visit www.cascades.com.
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