Cascades finalizes the sale of its plant in the State of New York


The green packaging and tissue products producer Cascades announced the finalization of the sale transaction concerning the building and land of the Maspeth plant in the State of New York for 72 million dollars.

The company declared that it accepted the offer of a private buyer and it will continue to use the plant until 31st December 2018, deadline on which the plant is expected to be closed down.

Within the framework of the activities for the modernization and optimization of its business in the North-East of the United States, Cascades disclosed its plan to close the packaging plant due to the physical limitations of the site. The plant volumes will be distributed among the other Cascades plants during the year.

According toCascades Containerboard Packaging President and CEO Charles Malo«the reorganization of our activities in the region will be carried out gradually to guarantee a smooth transition for our customers, thereby continuing to consolidate our commitment and the capacity to serve as their privileged partner while they are developing their business». Founded in 1964, Cascades produces, converts and commercializes packaging articles and fabric products mainly made from recycled fibres. The company employs 11 thousand people in over 90 production plants in North America and Europe.