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Cascades Sells Greenfield S.A.S.
Kingsey Falls, Quebec, Canada, 08 January 2008 -- /PRNewswire/ -- Cascades (CAS-TSX) announces the sale of its Greenfield S.A.S. French deinking mill to Argowiggins, a subsidiary of Sequana Capital. As previously announced, discussions were initiated with Argowiggins in December 2007, the sale of which was subject to certain conditions, including the approval of the competent regulatory bodies. Since these conditions were met, the transaction between both parties was concluded on 07 January.

Commenting on the transaction, Alain Lemaire, president and chief executive officer of Cascades, stated "There were few opportunities for Greenfield to integrate its production line with that of our other European mills. The sale of this mill is thus in keeping with one of our strategic objectives and will enable Cascades to concentrate its efforts on the key components of its business model."

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 located 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 enabling 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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