KINGSEY FALLS, QC, Sept. 15 /CNW Telbec/ - Cascades Inc. (CAS on the
Toronto Stock Exchange) announces that it has completed the sale of the assets
of its softwood lumber mill, Scierie Lemay Inc., located in
L'Ascension-De-Notre-Seigneur in the Lac-Saint-Jean (Québec) area, to Produits
Forestiers Arbec S.E.N.C. The amount of the sale was not disclosed.
"This transaction is in keeping with the objectives of our action plan
which includes, amongst other things, disposing of non-strategic operations
and reducing debt. The sale of Scierie Lemay confirms our withdrawal from the
softwood lumber industry where our presence was minimal", declared Alain
Lemaire, President and Chief Executive Officer of Cascades.
Cascades acquired 50% of the shares of Scierie Lemay Inc. in 1996 and
became the sole owner in January 2004.
Founded in 1964, Cascades produces, converts and markets packaging and
tissue products composed mainly of recycled fibres. Cascades employs nearly
14,000 men and women who work in some 100 modern and flexible production units
located in North America and in Europe. Cascades' management philosophy, its
more than 40 years of experience in recycling, its continuous efforts in
research and development are strengths which enable the company to create
innovative 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: Hubert Bolduc, Vice-President,
Communications and Public Affairs, Cascades Inc., (514) 912-3790; Investors:
Didier Fillion, Director, Investor Relations, Cascades Inc., (514) 282-3697