Cascades Completes $207 Million Acquisition of Orchids Paper Products Assets:NORTH AMERICA

摘要

Cascades in September completed its acquisition of Orchids Paper Products assets for a cash consideration of US$207 million.The assets include the Barnwell,South Carolina and Pryor,Oklahoma operations,as well as certain other assets,including amended supply and other commercial arrangements with Fabrica de Papel San Francisco,S.A.de C.V.(“Fabrica”],based in Mexicali,Mexico,and certain of its affiliates.Cascades President and CEO,Mario Plourde,commented,”I am very pleased to welcome Pryor and Barnwell employees to the Cascades family.Without a doubt,this acquisition will accelerate the modernization of Cascades’U.S.tissue platform while strengthening the geographic and operational positioning of the Company's retail tissue segment.This transaction creates value for both our clients and for our shareholders with an expected annual EBITDA contribution of approximately US$45 million beginning in 2021.”