Cascades completes purchase of Atlantic Packaging’s tissue division
September 1, 2009 By Pulp & Paper Canada
Cascades Inc. has completed the acquisition of the tissue division of Atlantic Packaging Products Ltd. The est…
Cascades Inc. has completed the acquisition of the tissue division of Atlantic Packaging Products Ltd. The estimated value of the transaction is approximately $60 million. The acquisition will enable Cascades to increase its annual production capacity by 55,000 short tons of recycled paper and its converting capacity by approximately 70,000 short tons, adding close to $100 million in sales per year.
According to Suzanne Blanchet, president and CEO of Cascades Tissue Group, the transaction will enable the company to further the development of the Cascades Enviro100% recycled brand particularly in central and western Canada.
Commenting on the transaction, Alain Lemaire, president and CEO of Cascades, noted that the acquisition builds on Cascades’ development of environmentally responsible products. “Atlantic Packaging Products Ltd. has been using recycled fibres to manufacture its products for many years. Building on this experience, Cascades will ensure that its environmentally sound principles are applied to existing processes, namely, with regards to green chemistry and minimal consumption of water and energy.”
Founded in 1964, Cascades produces, converts, and markets packaging and tissue products composed mainly of recycled fibres.
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