Le Lézard
Classified in: Business
Subject: RCN

Cascades announces the optimization of its corrugated sheet plant capacity in Ontario


KINGSEY FALLS, QC, Aug. 28, 2018 /CNW Telbec/ - Cascades Inc. (TSX: CAS), a leader in the recovery and manufacturing of green packaging and tissue products, announces plans to close two sheet plants in Barrie (Jellco) and Peterborough, Ontario, as part of its ongoing efforts to reorganize and optimize its corrugated packaging platform in Ontario.

"We are announcing today that production from the Barrie and Peterborough plants will gradually be redeployed to our other facilities in Ontario. This decision will enable us to better align our existing production capacity and to improve service for our valued customers." said Charles Malo, President and Chief Operating Officer of Cascades Containerboard Packaging.

The two plants will be closed no later than December 31st 2018, affecting approximately 65 employees. The Company is making this announcement well in advance of the anticipated closing date in order to minimize the impact on our employees and to initiate efforts to relocate as many of the affected employees as possible to our other business units. Any employees who are not relocated to other plants will be offered assistance in finding alternative employment.

Cascades would like to thank employees for their dedication and loyal service, and their ongoing commitment to ensuring the successful transfer of existing business to other plants.

Founded in 1964, Cascades produces, converts and markets packaging and tissue products that are composed mainly of recycled fibres. Cascades employs 11,000 women and men, who work in over90 production units in North America and Europe. With its management philosophy, half a century of experience in recycling, and continuous efforts in research and development as driving forces, Cascades continues to deliver the innovative products that customers have come to rely on. Cascades' shares trade on the Toronto Stock Exchange under the ticker symbol CAS.

Website: www.cascades.com
Green by Nature blog: blog.cascades.com 
Facebook: facebook.com/Cascades
Twitter: twitter.com/CascadesDD | twitter.com/CascadesSD | twitter.com/CascadesInvest
YouTube: youtube.com/Cascades

 

SOURCE Cascades Inc.


These press releases may also interest you

at 16:15
Snap Inc. Announces First Quarter 2024 Financial Results
Snap Inc. today announced financial results for the quarter ended March 31, 2024. "The value we provide our community and advertising partners has translated into improved financial performance," said Evan Spiegel, CEO. "Our large, growing, and...

at 16:15
Universal Reports First Quarter 2024 Results
Universal Insurance Holdings ("Universal" or the "Company") reported first quarter 2024 results. "It was a strong quarter, including a 29.4% annualized adjusted return on common equity and 35.4% adjusted diluted EPS growth year-over-year," said...

at 16:15
Comfort Systems USA Reports First Quarter Results
Comfort Systems USA, Inc. (the "Company") today reported results for the quarter ended March 31, 2024. For the quarter ended March 31, 2024, net income was $96.3 million, or $2.69 per diluted share, as compared to $57.2 million, or $1.59 per...

at 16:15
Yelp Announces Date of First Quarter 2024 Financial Results
Yelp Inc. , the company that connects people with great local businesses, announced that it will release its financial results for the quarter ended March 31, 2024 after the market closes on Thursday, May 9, 2024. Yelp will issue a press release...

at 16:15
L3Harris Technologies Reports Strong First Quarter 2024 Results, Increases 2024 Profitability Guidance
L3Harris Technologies, Inc. reported first quarter 2024 net income attributable to L3Harris of $283 million, or diluted earnings per share (EPS) of $1.48, on first quarter revenue of $5.2 billion. First quarter 2024 non-GAAP1 net income attributable...

at 16:15
PCB Bancorp Reports Earnings of $4.7 million for Q1 2024
PCB Bancorp (the "Company") , the holding company of PCB Bank (the "Bank"), today reported net income of $4.7 million, or $0.33 per diluted common share, for the first quarter of 2024, compared with $5.9 million, or $0.41 per diluted common share,...

More news about Business...


News published on and distributed by: