Kingsey Falls, Quebec, Canada, 02 April 2012 -- Cascades Inc. (TSX: CAS), a leader in the recovery and the manufacturing of green packaging and tissue paper products, announced today that its Norampac division has acquired Bird Packaging Limited's converting and storage facilities located in Guelph, Kitchener, and Windsor, in Ontario. The financial terms of the transaction have not been disclosed.
“This acquisition is beneficial to Norampac and Cascades as it will allow us to broaden our market reach in Ontario by integrating plants that benefit from an excellent reputation amongst their customers," said Marc-André Dépin, president and chief executive officer of Norampac. "In addition to a well-established customer base, Bird also has state-of-the-art equipment, a team of skilled people, and a vast line of products and services that complement Norampac's product offering.”
This investment is part of Norampac's development strategy, which aims at expanding its geographical presence in Ontario and relying on productive assets. Furthermore, Bird's packaging products represent a compelling add-on to Norampac's portfolio and will increase Norampac's competitiveness with an improved product offering.
“Our goal is to innovate and react promptly to our customers' needs by offering innovative packaging solutions. The addition of Bird's production plants to Norampac's assets, in line with our strategic plan, will help us to reach our target with the expansion of our spectrum of products and services in terms of corrugated, high standards of printing, and packaging solutions, just to name a few,” Dépin said.
Founded in 1975, Bird Packaging Limited is a family-owned business that employs 130 employees. It specializes in the fabrication of corrugated boxes of all sizes and grades, floor displays, and products with high standards of printing.
Founded in 1964, Cascades produces, converts, and markets packaging and tissue products that are composed mainly of recycled fibers. The corporation employs more than 12,000 men and women, who work in more than 100 units in North America and Europe. Its management philosophy, its more than 45 years of experience in recycling, and its continued efforts in research and development are strengths that enable Cascades to create new products for its customers. Cascades' shares trade on the Toronto Stock Exchange, under the ticker symbol CAS. |
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