Cascades finalizes sale of its New York plant

Cascades Inc., Kingsey Falls, Quebec, has announced that it has completed the sale of the building and land of its Maspeth plant in New York for US$72 million. 

The company accepted an offer from a private buyer and will continue to use the facility until Dec. 31, 2018, the date the plant is scheduled to close.

In August 2017, as part of the modernization and optimization of its operations in the northeastern U.S., Cascades announced that it had decided to shut down the Maspeth packaging plant due to the physical limitations of the site. The volumes will be progressively redeployed to other Cascades units over the course of the year.

Charles Malo, president and chief operating officer of Cascades Containerboard Packaging, says, “The reorganization of our activities in the region will be done gradually to ensure a smooth transition for our customers, thus continuing to reinforce our commitment and ability to act as a preferred partner in their ongoing development.”

The Maspeth plant opened in 1906, with Cascades acquiring it in 2001. The facility has 148 employees and manufactures corrugated products, including linerboard and corrugated medium, according to the Cascades website. Serving the metro New York, New Jersey, Connecticut and eastern Pennsylvania regions, the plant’s end users include the food, cosmetic and pharmaceutical industries.

Founded in 1964, Cascades produces, converts and markets packaging and tissue products composed mainly of recycled fibers.