Cascades buys honeycomb board mill
August 7, 2007 By Pulp & Paper Canada
Kingsey Falls, QC–Cascades has entered an agreement with Honeycomb Products of Michigan, to acquire the assets of …
Kingsey Falls, QC–Cascades has entered an agreement with Honeycomb Products of Michigan, to acquire the assets of HPMs honeycomb board mill in Grand Rapids, MI. While the transaction is not material, and its terms were not disclosed, the acquisition will allow Cascades Specialty Products Group to solidify its position as the second largest manufacturer of honeycomb board in the market, and to increase its green industrial packaging product line made entirely from recycled paper.
This transaction fits perfectly well with our strategic plan, Mario Plourde, president and CEO of Cascades Specialty Products Group said. Through its enviable geographical positioning, the acquisition of the HPM plant will facilitate our efforts to penetrate the U.S. market. Furthermore, the quality of HPMs products, its strong management team and its continuously improving performance offer strong support for improving and sustainable profitability.
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