Cascades Inc., Kingsey Falls, Quebec, has completes the sale of its North American boxboard manufacturing and converting assets to Atlanta-based Graphic Packaging Holding Corp. (GPH) for CA$44.9 million ($36 million). The sale was first announced Dec. 11, 2014.
GPH provides packaging solutions for a wide variety of products and holds positions in coated unbleached kraft and coated recycled board.
The former Cascades assets that GPH has acquired include boxboard operations in East Angus and Jonquière, Quebec; in Winnipeg, Manitoba; and in Mississauga and Cobourg, Ontario.
Cascades says the sale reflects the company’s goal to refocus its activities on strategic sectors where it excels and does not affect the company's European-based boxboard operations.
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