Cascades makes a strategic investment of $4.5M in Kingsey Falls and Drummondville
Nov 02, 2015, 13:30 ET
KINGSEY FALLS, QC, Nov. 2, 2015 /CNW Telbec/ - Cascades Inc. (TSX: CAS), a leader in the recovery and manufacture of green packaging and tissue products, announced that it will be making strategic investments amounting to $4,5M in its Plastiques Cascades plant in Kingsey Falls and its Cascades Inopak plant in Drummondville. Both of these plants specialize in the manufacture of packaging for fresh food made from recycled plastic.
"The investments announced today are directly in line with our strategic plan to focus our investments on two major sectors: packaging and tissue products. The goal is to increase the company's market share in the food packaging sector, by continuing to propose innovative products that ensure an optimal shelf life for food and reduce our environmental footprint," asserts Mario Plourde, President and Chief Executive Officer of Cascades.
At the Plastiques Cascades plant in Kingsey Falls, the $3.5M investment will be used to replace a thermoforming line, add a pre-padding solution to the production line and install automated packaging lines. This will make production more flexible, increase throughput and boost plant profitability, meaning existing jobs can be consolidated. These investments support the development strategy set out for the growing food packaging industry. The new facilities will also reduce the physical strain associated with certain packaging activities, enabling us to offer a safer work environment to our employees.
At the Cascades Inopak plant in Drummondville, the $1M investment will be used to install a new thermoforming line. Adding this production line at the cutting edge of technology will boost both production capacity and quality.
According to Luc Langevin, President and Chief Operating Officer of the Specialty Products Group: "These investments are part of a process of asset modernization at Cascades. They will boost our productivity, while also allowing us to better meet our customers' requirements and offer high-quality packaging. In the long term, this project will improve our positioning in certain competitive market segments."
The Plastiques Cascades and Cascades Inopak plants are part of the Cascades Specialty Products Group. The plastics plant in Kingsey Falls produces polystyrene food trays with 25% recycled content used in the packaging of fresh food products such as meat, poultry and seafood. These trays are sent to processing plants and grocers. Cascades Inopak manufactures food packaging products and consumer goods made from PETE (polyethylene terephthalate) with a minimum of 60% post-consumer recycled content. Among other things, the plant specializes in the manufacture of barrier trays for fresh products such as meat and poultry.
Founded in 1964, Cascades produces, converts and markets packaging and tissue products that are composed mainly of recycled fibres. The Company employs close to 11,000 employees, who work in over 90 production units located in North America and Europe. With its management philosophy, half a century of experience in recycling, and continuous efforts in research and development as driving forces, Cascades continues to deliver the innovative products that customers have come to rely on. Cascades' shares trade on the Toronto Stock Exchange, under the ticker symbol CAS.
Green by Nature blog: blog.cascades.com
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SOURCE Cascades Inc.
For further information: Media: Hugo D'Amours, Vice-President, Communications and Public Affairs, Cascades Inc., 819-363-5164, [email protected]; Source: Riko Gaudreault, Director, Investor Relations, Cascades inc., 514-282-2697, [email protected]
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