Cascades Inc. Acquires a De-Inking Plant in the United States.MONTREAL--(BUSINESS WIRE)--June 9, 1998--Cascades Inc. (ME:CAS.) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CAS.) announces that it has concluded an agreement to acquire the assets of Auburn Fiber, a de-inked pulp De-inked pulp is recycled paper which has been processed by chemicals, thus removing ink and other unwanted elements. The pulp is then used (often in a combination with newly produced pulp) to produce paper. mill with an annual capacity of 75,000 metric tons. Located in Auburn, Maine Auburn is a city in and the county seat of Androscoggin CountyGR6, Maine, United States. It is one of two principal cities of and included in the Lewiston-Auburn, Maine Metropolitan New England City and Town Area and the Lewiston-Auburn, Maine , this mill previously owned by AT&T Capital Corporation, was constructed in 1995 for $70M US. In commenting on this transaction, Mr. Laurent Lemaire, President and Chief Executive Officer of Cascades Inc. stated: "This acquisition fits well with our plans to expand further in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and increase our vertical integration. With its state-of-the-art equipment, the plant produces a pulp with a high level of brightness which can rival the virgin pulp, particularly used by manufacturers of fine papers or tissue paper. The expertise that Cascades has acquired during the last 30 years in recycling and de-inking will be used to fully develop the mill's potential and further increase its production." The transaction is subject to certain conditions including regulatory approval. Cascades expect the final closing to occur by the end of June 1998. With this acquisition, the Cascades Group now has nine ultra-modern de-inking units producing more than 375,000 metric tons of de-inked pulp annually. With over 12,000 employees, the Cascades Group and its subsidiaries have more than 100 versatile operational units in Canada, the United States, France, Sweden, Germany and Great Britain Great Britain, officially United Kingdom of Great Britain and Northern Ireland, constitutional monarchy (2005 est. pop. 60,441,000), 94,226 sq mi (244,044 sq km), on the British Isles, off W Europe. The country is often referred to simply as Britain. . The corporation's six industrial groups, which are leaders in their niche markets, specialize respectively in the production of boxboard box·board n. A firm cardboard used for making boxes. , fine papers, tissue paper, containerboard con·tain·er·board n. A corrugated or solid cardboard used to make containers. and specialty products. Cascades also has a subsidiary specialized in the private production of electricity. CONTACT: Cascades Inc. Andre Belzile, 819/363-5142 abelzile@cascades.com or Stephane Milot, 514/282-2681 smilot@cascades.com |
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