Cascades Improves Results in Q1

摘要

Cascades Inc., Kingsey Falls, Quebec, reports first quarter 2012 net income of nearly $6 million, compared with a loss of nearly $8 million a year ago.Despite being an improvement over last year's first quarter, President and CEO Alain Lemaire says the performance is below the company's expectations due to a low level of productivity in its containerboard manufacturing operations. The company names the following moves as strategic initiatives taking place during the quarter: acquiring the corrugated box converting and warehousing facilities of Bird Packaging in Ontario, the announcement of investments of $30 million and closures of three plants as part of the consolidation of the corrugated products sector in Ontario, and the announcement of the closure of the Trenton containerboard mill effective June 1.