Cascades Inc. announces that Norampac, its containerboard packaging division, has successfully completed a transaction with US-based company Rand-Whitney Container LLC for the acquisition of its plant in Newtown, Connecticut, in exchange for certain assets of its Norampac New England plant, located in Thompson, Connecticut. The Newtown plant manufactures corrugated packaging.
"The acquisition of the Newtown plant will allow us to increase our converting capacity, thereby strengthening our position as leader in the Northeastern United States. Its geographical location will also allow us to create synergies which, in turn, will optimize our assets. This strategic acquisition is perfectly in line with our growth plan," said Charles Malo, President and Chief Operating Officer of Norampac.
In return, Cascades will transfer equipment and its customer list from the Norampac New England plant, located in Thompson, Connecticut.
Cascades produces, converts and markets packaging and tissue products that are composed mainly of recycled fibres.