St.Bruno, QC — Norampac, a division of Cascades Canada, has announced the signing of a Letter of intent for the sa…
St.Bruno, QC — Norampac, a division of Cascades Canada, has announced the signing of a Letter of intent for the sale of its Red Rock linerboard mill, located in northwest Ontario. Norampac has agreed to pay the purchaser, North American Logistic Services, 10 million dollars, in order to encourage the start-up of a new line of production at the facility.
The Red Rock mill was shutdown indefinitely on October 3, 2006, due to unfavourable economic factors.
Commenting this transaction, Marc-Andre Depin, president and CEO, said “We are pleased to contribute to the economic development of the region, by allowing the start-up of a new business, which should prove favourable for the local economy.”
The transaction is expected to be concluded by the end of October 2007.
Source: Genevive Boyer, Communications Coordinator, Norampac. (450) 461-8611.
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