KINGSEY FALLS, QC, Dec. 3 /CNW Telbec/ - Cascades (CAS-TSX) has announced
that discussions are currently underway with Argowiggins, a subsidiary of
Sequana Capital, regarding the sale of the Greenfield S.A.S. deinking mill.
Located in Chateau-Thierry in France and 100% owned by Cascades, Greenfield
S.A.S. has an annual capacity of 140,000 tonnes of high-end recycled pulp.
Commenting on the talks, Mr. Alain Lemaire, President and Chief Executive
Officer of Cascades, stated "The possible sale of Greenfield S.A.S. is in
keeping with our strategic directions since there are few opportunities to
integrate the production of this mill." Cascades and Argowiggins hope to
conclude this agreement by the beginning of 2008. The transaction is subject
to the approval of the competent regulatory bodies and to the consultation of
the employees' representatives of both companies.
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: Media: Mr. Hubert Bolduc, Vice-President,
Communications and Public Affairs, (514) 912-3790; Investors: Mr. Marc Jasmin,
C.M.A. Director, Investor Relations, (514) 282-2681; Source: Mr. Alain
Lemaire, President and Chief Executive Officer, Cascades Inc.