KINGSEY FALLS, QUEBEC—Cascades has sold its Thunder Bay, Ontario, coated fine papers plant to Thunder Bay Fine Papers. Cascades will contribute C$4.5 million to the purchaser to support the start-up of the plant. The Thunder Bay plant was closed in January of 2006 due to poor economic conditions.
KINGSLEY FALLS, QUEBEC—Cascades has reached an agreement in principle to purchase Domtar’s 50 percent interest in Norampac Inc. for $560 million in cash.Cascades has obtained commitments for the financing necessary to complete the transaction. The financing will replace the existing credit facility and provide for a new $1.05 billion credit facility. The deal is expected…
