Cascades Sells Norampac Avot-Vallée Mill in France
 Print this article | Send to Colleague
Cascades Inc., Kingsey Falls, Que., Canada, a producer of packaging and tissue paper products, this week reported that it has reached an agreement with OpenGate Capital, a private equity firm, for the sale of its Norampac Avot-Vallée mill in France. The transaction should be completed on March 1.
Located in the North of France, Norampac Avot-Vallée specializes in the manufacture of linerboard (white testliner) made from 100% recycled fibers, produces more than 145,000 metric tpy, and has approximately 160 employees. Since 1987, Cascades has supported its French subsidiary with strategic investments that have enabled Norampac Avot-Vallée to be the first French producer in terms of white testliner volume and to work with the largest European groups.
"Since Norampac's priority is to consolidate its leader position in North America, Cascades came to the conclusion that it would be more strategic for the group to sell the Avot-Vallée mill to a company that has the ability to ensure its development and continuity," said Marc-André Dépin, president and CEO of Norampac, a division of Cascades Canada Inc.
Alain Lemaire, Cascades' president and CEO, added that "this transaction is part of our strategy to simplify our portfolio of assets, reduce our debt, and concentrate on developing and improving the competitiveness of our key operations in packaging, tissue papers, and recovery. Therefore, I wish to thank all of the employees for their involvement and efforts over the past 20 years."
Founded in 1964, Cascades employs nearly 12,500 employees who work in more than 100 units located in North America and Europe.
|
|
