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Cascades Intends to Sell Greenfield S.A.S.
Kingsey Falls, Quebec, Canada, 03 December 2007 -- /PRNewswire/ -- Cascades (CAS-TSX) has announced that discussions are underway with Argowiggins, a subsidiary of Sequana Capital, regarding the sale of the Greenfield S.A.S. deinking mill. Located in Chateau-Thierry in France and 100% owned by Cascades, Greenfield S.A.S. has an annual capacity of 140,000 metric tons of high-end recycled pulp.

Alain Lemaire, president and chief executive officer of Cascades, said "The possible sale of Greenfield S.A.S. is in keeping with our strategic directions since there are few opportunities to integrate the production of this mill." Cascades and Argowiggins hope to conclude this agreement by the beginning of 2008. The transaction is subject to the approval of the competent regulatory bodies and to the consultation of the employees' representatives of both companies.

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 which enable the company to create new products for its customers. The Cascades shares trade on the Toronto stock exchange under the ticker symbol CAS.

Source: Cascades Inc.

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