Cascades to Close Thunder Bay Division Plant
Cascades will honor its contractual commitments towards its customers and suppliers, and will continue to offer a wide range of fine papers through its Saint-Jerome (Quebec) facility.
Rationalization is taking place throughout the industry. In this context, Cascades plans to re-evaluate the operations of its fine papers plant located in Saint-Jerome to significantly reduce costs and ensure a better future for the plant. In order to achieve this, a strategic recovery plan is underway. The plant's positioning in a niche market along with the important investments made during the past years should ensure the viability of the Saint-Jerome plant on a long-term basis.
Founded in 1964, Cascades produces, transforms and markets packaging products, tissue paper and fine papers, composed mainly of recycled fibers. Cascades employs nearly 15,600 men and women who work in some 140 modern and flexible production units located in North America, in Europe and in Asia. The Cascades shares trade on the Toronto stock exchange under the ticker symbol CAS.
Cascades Fine Papers Group Inc. is a Canadian leader in fine paper manufacturing, with a century-long reputation for craftsmanship. The company employs approximately 1,000 people and distributes its products throughout North America. Cascades is currently at the forefront of the recycled paper market, with the widest range of Canadian-made alkaline papers. As an environmentally friendly company, the group produces fine papers that contain an average of 30-percent post-consumer fiber.