Tuesday, September 2nd19.0°C
22817
22916

Cascades sells three Quebec plants, fine papers business for $39.5M

KINGSEY FALLS, Que. - Packaging company Cascades (TSX:CAS) has sold its fine papers division to Rolland Enterprises Inc., a subsidiary of H.I.G. Capital, for $39.5 million.

Cascades said the sale includes its fine papers and security papers plant and its CTC Converting Centre, a fine papers processing and distribution plant, in Saint-Jerome, Que.

The agreement also includes the Fibres Breakey pulp mill in Sainte-Helene-de-Breakeyville, Que.

The three plants employ 425 workers.

Cascades said the decision to sell the plants will help the company reduce its debt.

"Despite the positive contribution of these units to Cascades' results, we have adopted a strategic orientation emphasizing growth in the packaging, tissue papers and recovery sectors," said Cascades president and CEO Mario Plourde in a statement Tuesday.

The Canadian Press


Read more Business News

22819


Recent Trending




Today's Market
S&P TSX15619.08-6.65
S&P CDNX1010.88-13.11
DJIA17067.56-30.89
Nasdaq4598.188+17.917
S&P 5002002.28-1.09
CDN Dollar0.9151-0.0043
Gold1266.40-21.00
Oil93.27-2.69
Lumber350.60+2.20
Natural Gas3.949-0.167

 
Okanagan Companies
Pacific Safety0.20+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.18-0.01
Cantex0.08+0.01
Anavex Life Sciences0.24-0.01
Metalex Ventures0.07-0.005
Russel Metals36.42-0.06
Copper Mountain Mining2.90-0.03
Colorado Resources0.165-0.015
ReliaBrand Inc0.100.00
Sunrise Resources Ltd0.0250.00
Mission Ready Services0.225-0.02

 



22819

FEATURED Property
2052473#53 3381 Village Green Way
3 bedrooms 1 baths
$600
more details
image2image2image2
Click here to feature your property
Please wait... loading


Manage your behaviour

You can’t manage what you can’t control! You can’t manage the number of sales you’re going to make but you can manage the behaviour that will help you make those sales. Obvious...


At the Core: Lessons in pricing from Apple

Apple has taught many entrepreneurs the importance of design, how to create buzz when introducing new products to the marketplace, how to pioneer new technology and the importance of superior quality....


New Real Estate Brokerage in town

Move over “big guys” there’s a new brokerage in town featuring local expertise, long standing experience and a fresh boutique approach. Kelowna, August 31 2014 – You may have...

_





22692


Member of BC Press Council