Cascades to take full ownership of Papersource
KINGSEY FALLS, QUEBEC — Tissue paper producer Cascades Inc. will take full control of Papersource Converting Mill Corporation for $85 million including debt, according to Canadian Business.
The company has said it will pay $60 million in cash for the 50 percent of Papersource it does not already own, the article stated.
According to the article, the acquisition will strengthen the company''s position as a seller of bathroom tissue, paper towels and facial tissue to non-residential markets — ranging from schools and offices to hospitals and other users in Canada and the U.S.
"This announcement confirms the firm intention of Cascades to be a key player in the tissue paper sector in North America," said President and Chief Executive Officer (CEO) Alain Lemaire.
Click here to read the complete article.