Shareholder approval for Cascades and De Medici
October 30, 2007 By Pulp & Paper Canada
Kingsey Falls, QC — Cascades announced that shareholders of Reno De Medici S.p.A. have approved the proposed merge…
Kingsey Falls, QC — Cascades announced that shareholders of Reno De Medici S.p.A. have approved the proposed merger of Cascades S.A.’s recycled boxboard business and Reno De Medici S.p.a. at an extraordinary general meeting of shareholders held for that purpose. The transaction is expected to be completed at the beginning of January 2008 and is subject to approval by the appropriate competition authorities.
The planned combination will offer a unique portfolio of production assets for all of Europe, presenting a combined annual capacity of more that 1,100 kT. This merger will thus result in an operationally and financially stronger company that will be better able to respond to the demands of global customers.
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