KINGSEY FALLS, QC, March 9 /CNW Telbec/ - Cascades Inc. ("Cascades")
announces that the Toronto Stock Exchange accepted its notice of intention to
begin a normal course issuer bid in respect of its Common Shares. Purchases
pursuant to the normal course issuer bid will not commence prior to March 13,
2007 and will not continue beyond March 12, 2008. The Common Shares purchased
shall be cancelled.
The notice will enable Cascades to acquire up to 4,970,094 Common Shares
which represent approximately 5% of the 99,401,889 issued, and outstanding
Common Shares as of March 8, 2007. During the last 12 months, Cascades
purchased 467,400 Common Shares at an average cost of $13.49.
All purchases will be made through the facilities of the Toronto Stock
Exchange in accordance with its requirements.
Cascades considers that the shares to be acquired may, from time to time,
be undervalued in the market and represent an excellent opportunity to enhance
Founded in 1964, Cascades produces, transforms and markets packaging and
tissue products composed mainly of recycled fibres. Cascades employs close to
14 000 employees who work in more than 100 modern and flexible production
units located in North -America and Europe. Cascades' management philosophy,
its more than 40 years of experience in recycling, its continued efforts in
research and development are strengths which enable the company to create new
products for its customers. The Cascades shares trade on the Toronto stock
exchange under the ticker symbol CAS.
For further information:
For further information: Mr. Christian Dubé, Vice-president and Chief
Financial Officer, Cascades Inc., (819) 363-5168, firstname.lastname@example.org;
Mr. Marc Jasmin, Director, Investor Relations, Cascades Inc., (514) 282-2681,
email@example.com; Source: Mr. Robert F. Hall, Vice-president Legal
Affairs and Corporate Secretary, Cascades Inc.