KINGSEY FALLS, QC, Nov. 27, 2013 /CNW Telbec/ - Cascades Inc. (TSX: CAS), a leader in the recovery and recycling sector and the production of
green packaging and tissue products, announces an agreement between
Norampac and Maritime Paper Products Limited (MPPL) to create a joint
venture for their corrugated board activities located in the Atlantic
Provinces. The transaction is subject to the approval of the
Competition Bureau of Canada. The financial terms of the transaction
were not disclosed.
If the transaction is approved, the Norampac operations located in
Newfoundland and Moncton will be integrated with those of MPPL,
ensuring future growth for the joint venture, and a more comprehensive
range of products for its customers. Norampac will be an important
partner in the new joint venture, and will supply containerboard, while
MPPL will oversee management of the converting operations, as main
In commenting on this transaction, Mr. Marc-André Dépin, President and
CEO of Norampac stated "This new venture aims to provide customers with
an improved product line and a higher level of service through the
combined strengths of Norampac and MPPL. This will advance our
objective to modernize our production equipment and continue innovation
in terms of our product offering. We are convinced this new venture
with MPPL will allow us to increase our efficiency and sales, in order
to remain at the forefront of containerboard packaging in this market."
Until the closing of the transaction, Norampac's Newfoundland and
Moncton plants will continue to operate under the current management
within the Norampac Group.
Founded in 1964, Cascades produces, converts and markets packaging and
tissue products that are composed mainly of recycled fibres. The
Company employs more than 12,000 employees, who work in over 100
production units located in North America and Europe. With its
management philosophy, half a century of experience in recycling, and
continuous efforts in research and development as driving forces,
Cascades continues to deliver the innovative products that customers
have come to rely on. Cascades' shares trade on the Toronto Stock
Exchange, under the ticker symbol CAS.
SOURCE Cascades inc.
Vice-President, Communications and Public Affairs
Director, Investor Relations
President and Chief Executive Officer
Norampac, a division of Cascades Canada ULC
Green by Nature Blog: http://www.cascades.com/blog
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