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Cascades wraps up fine papers distribution sale

Cascades has completed the sale of its fine papers distribution assets, known as Cascades Resources, to PaperlinX C…

Cascades has completed the sale of its fine papers distribution assets, known as Cascades Resources, to PaperlinX Canada. Of the $81 million Cascades collected from the transaction, $77 million has already been received and used to pay down the company’s debt.

“This transaction will allow us to strengthen our balance sheet and financial ratios while continuing to provide, through a distribution agreement, specialty fine paper products at our St-Jrme mill,” president and CEO Alain Lemaire said of the sale.