The project was made possible particularly thanks to an Investissement Québec loan guarantee, for a maximum amount of $6 million.
"Today's announcement is part of our strategic plan aiming to focus our efforts and investments in the packaging and tissue paper strategic sectors. This process is beginning to show results" explains Mario Plourde , President and Chief Executive Officer of Cascades. "This announcement is a sign of confidence in the future, and we are especially happy to be able to make this investment in Drummondville , in the region where Cascades was born."
Norampac Chief Operating Officer Charles Malo said: "Norampac is the 2 nd largest producer of containerboard in Canada and the 6 th largest in North America . This project is an opportunity to reinforce our leadership in the market and show our dedication to our clientele. Our customers are the reason for our existence and, now more than ever, we wish to improve our service offer with innovative products that meet the highest industry standards."
The 45,000 sq.ft. building expansion will be completed in mid-November and the new corrugator will be operational as of January 2016.
Founded in 1964, Cascades produces, converts and markets packaging and tissue products composed mainly of recycled fibres. The Company employs close to 11,000 women and men, who work in over 90 production units located in North America and Europe . With its management philosophy, half a century of experience in recycling, and continuous efforts in research and development as driving forces, Cascades continues to deliver the innovative products that customers have come to rely on. Cascades shares are traded on the Toronto Stock Exchange, under CAS .
SOURCE Cascades Inc.