KINGSEY FALLS, QC, Jan. 31, 2014 /CNW Telbec/ - Cascades Inc. (TSX: CAS), a leader in the recovery and recycling sector and the production of green packaging and tissue products, announces the Competition Bureau of Canada has accepted the transaction it concluded on November 27, 2013, with Maritime Paper Products Limited (MPPL), for the creation of a new joint venture of converting corrugated board activities in the Atlantic Provinces. The new joint venture will be called Maritime Paper Products Limited Partnership (MPPLP).
The Norampac operations located in St.John's, Newfoundland, and Moncton, New Brunswick, will be integrated with those of MPPL on February 1, 2014. Norampac will own 40% of the joint venture and will supply containerboard to it, while MPPL will oversee management of the converting operations, as majority owner.
As previously highlighted, the creation of this joint venture will allow Norampac to ensure future growth in the Atlantic Provinces and to remain at the forefront in this market, by offering an improved and more comprehensive range of products to its customers. Furthermore, the creation of MPPLP aims to provide customers with a better service through the combined strengths of Norampac and MPPL. Thanks to this new venture, Norampac will have the opportunity to consolidate its equipment modernization and innovation efforts, in terms of product offering.
Founded in 1964, Cascades produces, converts and markets packaging and tissue products that are composed mainly of recycled fibres. The Company employs more than 12,000 employees, who work in over 100 production units located in North America and Europe. With its management philosophy, half a century of experience in recycling, and continuous efforts in research and development as driving forces, Cascades continues to deliver the innovative products that customers have come to rely on. Cascades' shares trade on the Toronto Stock Exchange, under the ticker symbol CAS.
SOURCE Cascades inc.
Vice-President, Communications and Public Affairs
Director, Investor Relations
President and Chief Executive Officer
Norampac, a division of Cascades Canada ULC