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Management Side
Cascades and Reno De Medici Announce Merger Approval
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Kingsey Falls, Quebec, Canada, 07 February 2008 -- /PRNewswire/ -- Cascades Inc. (CAS-TSX) announced today that the merger of the recycled boxboard operations of its European subsidiary Cascades SA and Reno De Medici S.p.A. has been approved by the competition authorities in Germany and Italy.

The parties expect to be able to sign the definitive agreements necessary to complete the merger by the end of February.

The combination offers a unique portfolio of production assets for all of Europe, presenting a combined annual capacity of more that 1 million metric tons.

"This merger results in an operationally and financially stronger company that will be better able to respond to the demands of global customers and shareholders," commented Alain Lemaire, president and chief executive officer of Cascades Inc.

About Cascades Inc and Cascades S.A.

Founded in 1964, Cascades produces, transforms, and markets packaging and tissue products composed mainly of recycled fibers. Cascades employs nearly 14,000 men and women who work in some 100 modern and flexible production units in North America and in 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 innovative products for its clients. The Cascades shares trade on the Toronto stock exchange under the ticker symbol CAS.

Cascades S.A. is a European division of Cascades Inc. It includes primarily four virgin and recycled manufacturing boxboard mills in France, Germany, and Sweden, a sheeting operation in England, and an overall active sales structure in Europe.

About Reno De Medici SpA

Reno De Medici produces, transforms and markets cartonboard. Reno De Medici employs more than 1100 employees and conducts its activities through subsidiaries based in Italy, France, Spain, and Germany. Reno De Medici is listed on the Milan and Madrid stock exchanges.

Source: Cascades, Inc.
 

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