An agreement has been reached for the sale of Cascades' North American boxboard manufacturing and converting business to Graphic Packaging Holding for $44.9 million. Five Canadian plants will be affected by the transaction, along with 670 employees. The acquisition is expected to close in the first quarter of 2015.
Cascades Fine Papers Group
Commercial Printing Industry News Briefs from Printing Impressions’ October 2014 edition, including ICV Partners (ICV) and OneTouchPoint (OTP), RR Donnelley, AlphaGraphics, Resolute Forest Products, Kodak and Bang Printing, Brandtjen & Kluge, Innovator Beryl Wolk, and Cascades.
Cascades Inc. is ceasing its Kraft paper manufacturing activities in the East Angus (Quebec) plant because of unfavorable market conditions and the failure of discussions concerning the plant's transfer and turnaround.
Cascades Inc. has reached an agreement with Rolland Enterprises, a subsidiary of H.I.G. Capital, for the sale of its fine papers activities for $39.5 million. The units covered by this transaction are: Rolland Division, CTC Converting Centre and Fibres Breakey. The three units employ some 425 workers and will now operate under a new company name—Rolland Enterprises.
Cascades’ Enviro Jet further expands the breadth of evaluated papers for the Océ inkjet platforms, giving Canon Solutions America customers even greater flexibility in their paper choices and further increasing the types of applications that can be produced. The papers will be featured at the Canon Solutions America booth at PRINT 13.
Cascades executives recently inaugurated the addition of $3.7 million in new deinking equipment at the Cascades Fine Papers Group, Breakey Fibres mill. Focused on producing deinked kraft pulp of the highest quality, this strategic investment will drive improvements in the quality of Cascades’ fine papers, while also protecting jobs.