Kingsey Falls, QC — Cascades has announced that it will be reclassified from the Paper & Forest Products industry …
Kingsey Falls, QC — Cascades has announced that it will be reclassified from the Paper & Forest Products industry to the Containers & Packaging industry by S&P/TSX and Morgan Stanley Capital International. The company will remain in the Materials Sector. This change will occur after the close of market on November 30, 2007.
Commenting on the reclassification, Alain Lemaire, President and CEO stated: “As a result of the divestiture of our paper distribution activities, the closure of our coated fine paper operations and the acquisition of Norampac and other packaging assets, Cascades’ profile has changed dramatically over the last two years. This reclassification better recognizes the fact Cascades is not a forest company but rather a manufacturer and converter of tissue and packaging products made with recycled fibres. This should assist the financial community in properly assessing the relative valuation of Cascades.”
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