Cascades Tissue Group Acquires Assets of Newstech
Kingsey Falls, Quebec, Canada, 01 September 2006 -- /PRNewswire/ -- Cascades Tissue Group has acquired the assets of Newstech MD, LP, located in Hagerstown, Maryland, USA. The deinking mill was built in 1995 and has not been operational since the spring of 1997. It is equipped with two lines of deinking pulp and has a total production capacity of 400 metric tons per day.
In commenting on this acquisition, Suzanne Blanchet, president and chief executive officer of Cascades Tissue Group, said "This transaction enables us to acquire excellent production equipment at a very attractive price. Over the next few months, we will use them either to improve our production of deinking pulp or in the production of tissue paper."
Founded in 1964, Cascades produces, transforms, and markets packaging products, tissue paper, and fine papers, composed mainly of recycled fibers. Cascades employs nearly 14,300 men and women who work in some 120 modern and flexible production units located in North America, in Europe, and in Asia. Cascades' management philosophy, its more than 40 years of experience in recycling, 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.