The amount of the transaction is approximately $60m.
In commenting on this transaction, Suzanne Blanchet, president and CEO of Cascades Tissue Group stated: “The acquisition of the remaining shares of Papersource is another important step in our action plan to modernise our operations. This plant is at the cutting edge of technology and it will enable us to effectively optimise our production in the Northeastern US, in Québec and in Ontario.
“We anticipate that it will have a positive effect on our profitability. Moreover, I am confident that the arrival of the founder of Papersource, Benoit Laferrière, will be most beneficial for the development of our organisation.”
Source: Cascades
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