KINGSEY FALLS, QC, July 28, 2020 /CNW Telbec/ - Cascades Inc. (TSX: CAS), a leader in the recovery and manufacturing of green packaging and tissue products, announces that it will close its Etobicoke, Ontario Containerboard packaging facility as part of the strategic repositioning of its Containerboard platform in Ontario and the Corporation's continuing global optimization initiatives.
"An integral part of our strategic plan is to optimize our operational platform in Ontario. As a result, we will be gradually redeploying production from the Etobicoke facility to our other units within the region. This decision will reinforce our operational positioning for mid and long-term success by better aligning present production capacities, improving productivity, reducing fixed costs and further strengthening our service offering for our valued customers," said Charles Malo, President and Chief Operating Officer of Cascades Containerboard Packaging.
Cascades' Etobicoke Containerboard Packaging operations will permanently close no later than August 31, 2021, and the property will be put up for sale. Over the coming weeks and months, Cascades will work to minimize the impact of this announcement on the 125 employees related to this facility.
It is important to note that this announcement has no impact on the activities of our Cascades Recovery+ facility and offices that are also located in Etobicoke.
Cascades would like to thank its employees for their dedication and loyal service and will continue to count on them for the orderly transition of our existing business to our other plants.
Founded in 1964, Cascades offers sustainable, innovative and value-added packaging, hygiene and recovery solutions. The company employs 12,000 women and men across a network of over 90 facilities in North America and Europe. Driven by its participative management, half a century of experience in recycling, and continuous research and development efforts, Cascades continues to provide innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the entire planet. Cascades' shares trade on the Toronto Stock Exchange under the ticker symbol CAS
SOURCE Cascades Inc.
Media:
Hugo D'Amours
Vice-President, Communications, Public Affairs and Sustainable Development
Cascades
819-363-5164
hugo_damours@cascades.com
Investors:
Jennifer Aitken, MBA,
Director, Investor Relations
Cascades Inc.
514-282-2697
jennifer_aitken@cascades.com