KINGSEY FALLS, QC, Sept. 14, 2021 /CNW Telbec/ - Cascades Inc. (TSX: CAS) will release its third quarter 2021 financial results before market open on Thursday, November 11, 2021, and will hold a conference call at 9:00 AM ET, to discuss the results. The conference call can be accessed by phone or via the Company's website:
1-888-390-0620 / 1-416-764-8651 (international)
1-888-390-0541 / 1-416-764-8677 (international)
Access code # 673337
(available until December 11, 2021)
Due to the need for unplanned mechanical repairs of the anaerobic reactor that treats effluents of the Greenpac and Niagara Falls Containerboard mills, Cascades will be advancing maintenance initially scheduled for the fourth quarter at its Greenpac Mill in Niagara Falls, NY to the third quarter in order to optimize downtime scheduling. This will temporarily reduce Greenpac production which, when combined with the rescheduled planned maintenance, will result in total production downtime of approximately 26,000 short tons for the Containerboard segment in the third quarter, up from the estimated 9,800 short tons disclosed in conjunction with second quarter results on August 5, 2021. Production is expected to return to normal in October.
These changes are expected to impact the Containerboard segment third quarter operating income before depreciation (OIBD) by approximately $10 to $13 million. Consequently, Containerboard third quarter results are now expected to be slightly below both prior year and second quarter levels.
Founded in 1964, Cascades offers sustainable, innovative and value-added solutions for packaging, hygiene and recovery needs. The company employs 11,700 women and men in 85 production units 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, while contributing to the well-being of people, communities and the planet. Cascades' shares trade on the Toronto Stock Exchange under the ticker symbol CAS.
CAUTIONARY NOTE REGARDING FORWARD LOOKING INFORMATION
Certain statements in this press release, including statements regarding future results and performance, are forward-looking statements within the meaning of securities legislation based on current expectations. The accuracy of such statements is subject to a number of risks, uncertainties and assumptions that may cause actual results to differ materially from those projected, including, but not limited to, the effect of general economic conditions, decreases in demand for the Company's products, the prices and availability of raw materials, changes in the relative values of certain currencies, fluctuations in selling prices and adverse changes in general market and industry conditions. This press release may also include price indices as well as variance and sensitivity analyses that are intended to provide the reader with a better understanding of the trends related to the Company's business activities. These items are based on the best estimates available to the Company.
SOURCE Cascades Inc.
Vice-President, Communications, Public Affairs and Sustainable Development
Jennifer Aitken, MBA
Director, Investor Relations