22:20:05 EDT Thu 09 May 2024
Enter Symbol
or Name
USA
CA



Cascades Inc
Symbol CAS
Shares Issued 100,707,211
Close 2024-02-13 C$ 13.97
Market Cap C$ 1,406,879,738
Recent Sedar Documents

Globe/CP say Cascades closing three plants

2024-02-14 08:12 ET - In the News

The Globe and Mail reports in its Wednesday, Feb. 14, edition that Cascades has announced that it will be making changes to its containerboard operations which will result in the closure of three plants, affecting 310 employees. A Canadian Press dispatch to The Globe reports that the company will be closing its corrugated medium mill in Trenton, Ont., which is currently idled and will not be restarting operations. Additionally, the converting plants in Belleville, Ont., and Newtown, Conn., will be closing by May 31. These changes are being made due to a combination of market conditions, higher operating costs, aging technology and the need for significant capital investment. Cascades will be working with the affected employees to mitigate the effects of the closures wherever possible. The company will also be recording $61-million in impairment and environmental obligation charges associated with the closures in the fourth quarter of its 2023 financial results, as well as about $35-million in additional restructuring charges in the coming years. Employees who cannot or do not wish to relocate to other plants will receive support in their search for other employment, the company says.

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