Cascades consolidates results of Greenpac mill

P&PC Staff
April 25, 2017
By P&PC Staff
Apr. 25, 2017 - Cascades has announced that results from the Greenpac mill will now be included with the company’s consolidated financial statements and operational results following changes to the mill’s shareholder agreement.

“The change to the shareholder agreement is the result of a collaborative effort involving Cascades and our Greenpac Mill partners, the Caisse de dépôt et placement du Québec, Jamestown Container and Containerboard Partners. The modification will enable Cascades to better reflect our presence in the North American containerboard market in our public disclosures,” said Cascades president and CEO Mario Plourde.

The consolidation, effective this month, did not involve any financial consideration and will be reflected in the company’s financial results beginning in the second quarter of 2017.

Cascades said it is pleased to separately announce that it has also increased its ownership stake in Greenpac from 59.7 per cent to 62.5 per cent, following an unrelated acquisition of a minority stake in Containerboard Partners, one of Greenpac’s shareholders, for an undisclosed amount.

Located in Niagara Falls, N.Y., the Greenpac plant began operating in July 2013, and is considered to be one of the most advanced in the North American industry. Greenpac manufactures lightweight linerboard made with 100 per cent recycled fibres on a machine that is 328-in. wide with an annual production capacity of 540,000 short tons.

Add comment

Note: By submitting your comments you acknowledge that Pulp and Paper Canada has the right to reproduce, broadcast and publicize those comments or any part thereof in any manner whatsoever. Please note that due to the volume of e-mails we receive, not all comments will be published and those that are published will not be edited. However, all will be carefully read, considered and appreciated.

Security code

Subscription Centre

New Subscription
Already a Subscriber
Customer Service
View Digital Magazine Renew

Most Popular

We are using cookies to give you the best experience on our website. By continuing to use the site, you agree to the use of cookies. To find out more, read our Privacy Policy.