Feb 22, 2011. /Lesprom Network/. Cascades Inc. has reached an agreement with OpenGate Capital, a private equity firm, for the sale of its Norampac Avot-Vallée mill in France. The transaction should be completed on March 1, 2011, as the company said in a press release received by Lesprom Network. Norampac Avot-Vallée specializes in the manufacturing of linerboard (white Testliner) made from 100% recycled fibres, produces more than 145,000 tons yearly and has approximately 160 employees. Since 1987, Cascades supports its French subsidiary with strategic investments that have enabled Norampac Avot-Vallée to be the 1st French producer in terms of white Testliner volume and to work with the largest European groups. "Since Norampac's priority is to consolidate its leader position in North America, Cascades came to the conclusion that it would be more strategic for the group to sell the Avot-Vallée mill to a company that has the ability to ensure its development and continuity", said Marc-André Dépin, President and CEO of Norampac, a Division of Cascades Canada Inc. Alain Lemaire, Cascades' President and CEO added: "This transaction is part of our strategy to simplify our portfolio of assets, reduce our debt and concentrate on developing and improving the competitiveness of our key operations in packaging, tissue papers and recovery. Therefore, I wish to thank all the employees for their involvement and efforts over the last 20 years." Cascades produces, converts and markets packaging and tissue products that are composed mainly of recycled fibres.