Cleaning & Maintenance Management Online

Cascades to take full ownership of Papersource

August 1, 2011

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.

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