MONTREAL--(BUSINESS WIRE)--June 9, 1998--Cascades Inc. (ME:CAS.) (TSE:CAS.) announces that it has concluded an agreement to acquire the assets of Auburn Fiber, a de-inked pulp mill with an annual capacity of 75,000 metric tons. Located in Auburn, Maine, this mill previously owned by AT&T Capital Corporation, was constructed in 1995 forReplica Louis Vuitton Watch $70M US.
In commenting on this transaction, Mr. Laurent Lemaire, President and Chief Executive Officer of Cascades Inc. stated: San Antonio Spurs Jersey Wholesale"This acquisition fits well with our plans to expand further in the United States and increase our vertical integration.
With its state-of-the-art equipment, the plant produces a pulp with a high level of brightness which can rival the virgin pulp, particularly used by manufacturers of fine papers or tissue paper. The expertise that Cascades has acquired during the last 30 years in recycling and de-inking Replica Chloewill be used to fully develop the mill's potential and further increase its production."
The transaction is subject to certain conditions including regulatory approval. CaMiami Heat Jerseyscades expect the final closing to occur by the end of June 1998.
With this acquisition, the Cascades Group now has nine ultra-modern de-inking units producing more than 375,000 metric tons of de-inked pulp annually.
With over 12,000 employees, the Cascades Group and its subsidiaries have more than 100 versatile operational units in Canada, the United States, France, Sweden, Germany and Great Britain.
The corporation's siReplica Jaeger-LeCoultre x industrial groups, which are leaders in their niche markets, specialize respectively in the production of boxboard, fine papers, tissue paper, containerboard and specialty products. Cascades also has a subsidiary specialized in the private production of electricity.
CONTACT: Cascades Inc.
Andre Belzile, 819/363-5142
or
Stephane Milot, 514/282-2681
...
