Kingsey Falls, Quebec, Canada, 22 September 2009 -- /PRNewswire/ -- Cascades (CAS: Toronto Stock Exchange), a leader in the recovery of recyclable materials and manufacturing of green packaging and paper products, today announced the acquisition of the Canadian assets of Sonoco Recycling, and the recovery assets of Yorkshire Paper Corporation through its subsidiary Metro Waste Paper Recovery. Both companies provide the retail sector with on-site collection services of recyclable materials, such as corrugated containers, paper and plastics.
“These acquisitions are in line with our strategic objective of growing our business in Canada and in the northeastern United States. These assets perfectly complement our existing infrastructure and will allow us to better serve the diversion needs of our retail customers and to deliver our Recovery …Plus program coast to coast, incorporating quantifiable diversion methods to achieve zero-waste targets. In addition, the materials recovered will supply our Cascades' mills and other North American customers,” said Al Metauro, CEO of Metro Waste.
Yorkshire Paper Corporation operates in New England and in upstate New York. It annually collects close to 24,000 metric tons of recycled fiber. In 2008, Sonoco Recycling collected 190,000 metric tons of recycled fiber across Canada.
Once completed, these transactions will enable Metro Waste to increase its collection capacity by 20%, which represents 1.4 million metric tons per year. This reaffirms the company's position as the largest paper collector in Canada and amongst the leaders in North America.
Mario Plourde, president and COO of Cascades Specialty Products Group added: “Recycled fibers represent more than two thirds of the raw material used by Cascades. The acquisitions will therefore help to further ensure a steady supply of raw material to Cascades' mills, while providing more room to grow in the development of environmentally sustainable products.” Cascades' 19 recovery facilities supply more than half of the 2.2 million tons of recycled fiber used by Cascades' manufacturing mills.
Metro Waste Paper Recovery Inc., a member of the Cascades Group of companies, operates 17 recovery facilities across Canada and the Northeast United States. Metro Waste Paper Recovery provides services to the industrial, commercial, institutional, and municipal sectors. Metro Waste Paper employs more than 900 employees and markets over 1.2 million tons per year of secondary materials.
Founded in 1964, Cascades produces, converts, and markets packaging and tissue products composed mainly of recycled fibers. Cascades employs close to 13,000 employees who work in more than 100 modern and flexible production units in North America and Europe. Cascades' management philosophy, its 45 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.