Cascades sells its two fibre panel divisions
May 10, 2004 By Pulp & Paper Canada
Cascades Inc. has announced the sale of its Convermat and Materiaux Cascades divisions located in Louiseville, Queb…
Cascades Inc. has announced the sale of its Convermat and Materiaux Cascades divisions located in Louiseville, Quebec.
A member of the Specialty Products Group, Materiaux Cascades and Convermat have been owned by Cascades since 1980.
Commenting on the transaction, Alain Lemaire, president and chief executive officer of Cascades declared: “This sale was a difficult decision given the employees’ tremendous involvement and the products’ market notoriety. However, we received a good offer at a time where we were questioning these assets, which offer very few synergies with our other sectors of activity. I remain nevertheless confident for the future of these plants and their 80 employees.”
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