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Management Side
Cascades Acquires Honeycomb Board Mill in Michigan
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Kingsey Falls, Québec, Canada, 02 August 2007 — Cascades Inc. (CAS-TSX) has entered into an agreement with Honeycomb Products of Michigan (HPM) to acquire the assets of HPM’s honeycomb board mill in Grand Rapids, Michigan, USA. The transaction is not material and its terms were not disclosed.

The acquisition of HPM enables Cascades Speciality Products Group to solidify its position as the second largest manufacturer of honeycomb board in the market and to increase its "green" industrial packaging product line entirely made from recycled paper. It is also a great opportunity for Cascades to further increase its vertical integration.

"This transaction fits perfectly well with our strategic plan," said Mario Plourde, president and chief operating officer of Cascades Speciality Products Group. "Through its enviable geographical positioning, the acquisition of the HPM plant will facilitate our efforts to penetrate the U.S. market. Furthermore, the quality of HPM’s products, its strong management team and its continuously improving performance offer strong support for improving and sustainable profitability".

End-markets for honeycomb products include the packaging of furniture, household-appliance, and transportation industries.

Founded in 1964, Cascades produces, transforms, and markets packaging and tissue products composed mainly of recycled fibers. Cascades employs close to 14,000 employees who work in more than 100 modern and flexible production units in North America and Europe. Cascades' management philosophy, its more than 40 years of experience in recycling, and its continued efforts in research and development are strengths that enable the company to create new products for its customers. The Cascades shares trade on the Toronto stock exchange under the ticker symbol CAS.
 

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