Cascades intends to sell Greenfield S.A.S.
December 12, 2007 By Pulp & Paper Canada
Kingsey Falls, QC – Cascades has announced that discussions are currently underway with Argowiggins, a subsidiary o…
Kingsey Falls, QC – Cascades has announced that discussions are currently underway with Argowiggins, a subsidiary of Sequana Capital, regarding the sale of the Greenfield S.A.S. deinking mill. Located in Chateau-Thierry in France and 100% owned by Cascades, Greenfield S.A.S. has an annual capacity of 140,000 tonnes of high-end recycled pulp.
Commenting on the talks, Alain Lemaire, President and CEO of Cascades, stated: “The possible sale of Greenfield S.A.S. is in keeping with our strategic directions since there are few opportunities to integrate the production of this mill.” Cascades and Argowiggins hope to conclude this agreement by the beginning of 2008. The transaction is subject to the approval of the competent regulatory bodies and to the consultation of the employees’ representatives of both companies.
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