The board mill is expected to be temporarily close the Ridgefielld plant, while the New Haven facility will continue to operate during the acquisition period.
Along with the purchase, Cascades and Simkins entered into a multi-year Supply Agreement for the supply of recycled coated boxboard to Simkins' folding carton plants. Simkins expects to focus on growing its Specialty Papers and Folding Carton Divisions, and continuing to meet its customers needs.
Alain Lemaire, president and CEO of Cascades stated : "We are pleased to announce this transaction which fits very well with our strategy of optimizing our North-American boxboard operations and also should over time, lead towards better overall efficiencies and operating rates for our mills. We will make every effort to meet the requirements of our new customers by enabling them in particular to benefit from our expertise in the manufacturing of boxboard."
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