| Cascades Sells its Interest in GSD Packaging to RockTenn |
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Kingsey Falls, Quebec, Canada, 25 January 2007 -- /PRNewswire/ -- Cascades Inc. (CAS: Toronto Stock Exchange) announces the sale of its 40% participation in GSD Packaging, LLC, a U.S. food pail manufacturing company, to Rock-Tenn Company. The proceeds of this transaction, which amount to USD 32 million, will be used to reduce Cascades' debt.
Founded in 1964, Cascades produces, transforms, and markets packaging products, tissue paper and fine papers, composed mainly of recycled fibres. Cascades employs nearly 14,000 men and women 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 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.
Source: Cascades Inc.
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