Jan 09, 2008. /Lesprom Network/. Cascades is announcing the sale of its coated fine papers manufacturing plant located in Thunder Bay, in Northern Ontario. Cascades will contribute $4.5 million to the purchaser, Thunder Bay Fine Papers Inc., in order to support the start-up of the plant. In commenting on this transaction, Mario Plourde, President and Chief Operating Officer of Cascades Specialty Products Group, stated: "Cascades is pleased to announce this transaction which will allow us to participate in the creation of new jobs in the community while limiting the costs associated with maintaining the mill". The Thunder Bay plant ceased operations in January 2006 because of unfavourable economic conditions. Cascades produces, transforms and markets packaging and tissue products composed mainly of recycled fibres. The Cascades shares trade on the Toronto stock exchange.