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Corporate
Recycling merger announced
Cascades Inc. (“Cascades” – CAS-TSX) announced today that the merger of the recycled boxboard operations of its European subsidiary Cascades SA and Reno De Medici S.p.A. has been approved by the competition authorities in Germany and Italy.The parties expect to be able to sign the definitive agreements necessary to complete the merger by the end of February.
The combination offers a unique portfolio of production assets for all of Europe, presenting a combined annual capacity of more that 1,100 kT.
“This merger results in an operationally and financially stronger company that will be better able to respond to the demands of global customers and shareholders”, commented Mr. Alain Lemaire, President and Chief Executive Officer of Cascades
