Thursday, December 18th1.7°C
24562
23715

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

23104


Recent Trending




Today's Market
S&P TSX14282.96+69.57
S&P CDNX664.87+5.84
DJIA17667.43310.56
Nasdaq4727.539+83.227
S&P 5002048.82+35.93
CDN Dollar0.8621+0.0034
Gold1195.40+1.10
Oil54.13-2.34
Lumber337.00+2.80
Natural Gas3.645-0.057

 
Okanagan Companies
Pacific Safety0.13+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.270.00
Cantex0.03-0.005
Anavex Life Sciences0.18+0.0141
Metalex Ventures0.055+0.005
Russel Metals25.89-1.29
Copper Mountain Mining1.53-0.01
Colorado Resources0.11+0.005
ReliaBrand Inc0.01990.00
Sunrise Resources Ltd0.055+0.005
Mission Ready Services0.220.00

 
24130


24380

FEATURED Property
202561816710 Wentworth Road
10085895 bedrooms
$1,795,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Parenthood: Estates, insurance & taxes

It is now even more important to ensure your loved ones are well looked if anything should happen to you. Here are a few topics to consider helping you prepare for some of the unexpected events that c...


Managing your sales team

Managing a sales team can be quite a challenge. Harnessing individual personality preferences and getting everyone focused on the same goals, moving at the same pace, and working in collaboration to d...


Working under the table

They say there are only two things that are certain in life: death and taxes. Not exactly an uplifting thought, but true nonetheless. Some people try to avoid paying tax by “working under the ta...

_



24111

24476


Member of BC Press Council


23895