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Article: Cascades announces a rationalization plan for its fine papers sector.
- Article from:
- PR Newswire
- Article date:
- November 22, 2005
CopyrightCOPYRIGHT 2005 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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KINGSEY FALLS, QC, Nov. 22 /PRNewswire-FirstCall/ -- Cascades announced today that it will cease the operations of its Cascades Fine Papers Group Inc., Thunder Bay Division (Ontario) plant which specializes in the manufacturing of coated papers. Approximately 375 employees will be affected by this closing which will occur on January 21, 2006 at the latest.
The current economic situation within the pulp and paper industry, along with the recent sales price decrease in the fine papers sector and the unfavourable short and long term perspectives compel Cascades to close the plant. Moreover, the reduced demand and increased price of raw material and energy, combined ...