Displaying items by tag: Cascades
A Water-Based Barrier Coating That Allows Creation of Recyclable, Repulpable, Compostable Take-Out Containers
Cascades Sonoco, a joint venture of Sonoco Products Company (NYSE:SON) and Cascades Inc. (TSE:CAS) has just announced the investment of approximately $16 million for the expansion of its existing Birmingham, Ala., facility.This investment in world-class water based coating technology will provide coated paper and paperboard substrates using its new FlexShield™, FluteSHIELD® and SurfSHIELD™ coating technology. These coatings, recently introduced to the folding carton and corrugated industries, are revolutionary water-based functional and barrier coatings designed to replace the standard LDPE coating used in take-out container folding carton applications, as well as wax replacement technology for the corrugated industry. They offer solutions that are recyclable, repulpable and compostable.
“This investment represents a significant geographic expansion for water-based products by Cascades Sonoco, especially in the fast-growing Southeastern United States,” said Rodger Fuller, senior vice president of Sonoco’s Paper & Engineered Carriers, U.S. & Canada, and Display & Packaging. With this exciting addition to its product portfolio, Cascades Sonoco remains dedicated to maintain its market leadership position in protective roll packaging for the paper industry.”
“We also wish to acknowledge the support of the Birmingham Business Alliance and all our partners as it influenced our decision to invest in the region,” added Luc Langevin, president and chief operating officer of Cascades Specialty Products Group. “This strategic investment certainly helps Cascades Sonoco expand its product offerings into high-growth consumer-oriented markets.”
Installation of the new equipment and expansion of the existing Birmingham facility will begin early this year, and start-up is expected in the second quarter of 2018. Once at full capacity, the new water-based coating line will be capable of producing 40,000-50,000 tons of sustainable coated materials annually.
“The Jefferson County Commission is pleased that Cascades Sonoco has decided to invest more than $16 million to expand its operations in our community,” said Jefferson County Commissioner David Carrington. “This long-term commitment in capital and increased employment is a testament to our business climate and workforce.”
Founded in 1964, Cascades produces, converts and markets packaging and tissue products that are composed mainly of recycled fibers. The Company employs 11,000 employees, who work in close to 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 trade on the Toronto Stock Exchange, under the ticker symbol CAS. For more information on the Company, visit our website at www.cascades.com.
Founded in 1899, Sonoco (NYSE:SON) is a global provider of a variety of consumer packaging, industrial products, protective packaging, and displays and packaging supply chain services. With annualized net sales of nearly $4.8 billion, the Company has 20,000 employees working in more than 300 operations in 35 countries, serving some of the world's best known brands in some 85 nations. Sonoco is a proud member of the 2015/2016 Dow Jones Sustainability World Index. For more information on the Company, visit our website at www.sonoco.com.
Cascades Inc. (TSX: CAS), a leader in the recovery and manufacturing of green packaging and tissue paper products, announces that it has entered into an agreement with its banking syndicate led by National Bank of Canada and Scotiabank as co-lead arrangers and joint book runners to extend and amend certain conditions of its existing $750 million revolving credit facility.
The amendment provides that the term of the facility will be extended to July 2019 and that the applicable pricing grid will be slightly lowered to better reflect market conditions. The other existing financial conditions will remain essentially unchanged.
In commenting on this refinancing, Mr. Allan Hogg, Vice-President and Chief Financial Officer, stated: "We are pleased with the continued support from our banking syndicate. The combined impact of this amendment and the refinancing of our senior notes in 2014 and earlier this year, will be to reduce total annual borrowing costs by more than $20 million per year, extend debt maturities to 2019 at the earliest while providing us with bank financing availability of approximately $375 million, which is sufficient to allow us to pursue our growth objectives.”
Certain statements in this release, including statements regarding future results and performance, are forward-looking statements based on current expectations. The accuracy of such statements is subject to a number of risks, uncertainties and assumptions that may cause actual results to differ materially from those projected, including, but not limited to, the effect of general economic conditions, decreases in demand for the Company’s products, increases in raw material costs, fluctuations in selling prices and adverse changes in general market and industry conditions and other factors listed in the Company’s Securities and Exchange Commission and Canadian Securities Commissions filings.
Founded in 1964, Cascades produces, converts and markets packaging and tissue products that are composed mainly of recycled fibres. The Company employs close to 11,000 employees, 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 trade on the Toronto Stock Exchange, under the ticker symbol CAS.
Director, Investor Relations and Business Strategies
Vice-President and Chief Financial Officer
Cascades Inc. (TSX: CAS), a leader in the recovery of recyclable materials and the manufacturing of green packaging and tissue paper products, announces that it has reached an agreement for the sale of its North American boxboard manufacturing and converting assets to Graphic Packaging Holding Company for $44.9 million.
The Cascades boxboard units affected by the transaction are:
- East Angus, Québec, a mill that manufactures recycled coated boxboard for the production of folding cartons. Founded in 1910, it was purchased by Cascades in 1983.
- Jonquière, Québec, a mill that manufactures three-ply coated boxboard from virgin or recycled fibre. Founded in 1963, it was acquired by Cascades in 1984.
- Winnipeg, Manitoba, a plant that manufactures folding cartons. Founded in 1905, it was acquired by Cascades in 2001.
- Mississauga, Ontario, a plant that manufactures high-quality graphic packaging. Founded in 1986, it was purchased by Cascades in 1992.
- Cobourg, Ontario, a plant that manufactures high-quality flexographic boxboard containers. It was built by Cascades in 1993.
The five plants affected by the transaction employ in all approximately 670 workers.
“Today, Cascades is announcing an important decision that once again signals its commitment to refocusing its activities in the strategic sectors in which it excels. This transaction follows in the wake of a number of other actions taken during the course of the year, with a view to reducing our debt load and focusing our investments in certain core packaging sectors, as well as in the tissue paper and recovery sectors. It is important to take note that today’s announcement does not affect our European boxboard operations,” stated Mario Plourde, President and Chief Executive Officer of Cascades.
“The investments made in past years in these boxboard manufacturing and converting units have led to an opportunity to create synergies with a player such as Graphic Packaging. By exiting this sector of activity in North America, Cascades and Norampac are turning a page in their history. We sincerely thank our employees for their loyal services, and we wish them all the best in the future,” added Marc-André Dépin, President and Chief Executive Officer of Norampac.
The acquisition is subject to standard closing conditions and regulatory review and is expected to close in the first quarter of 2015.
Founded in 1964, Cascades produces, converts and markets packaging and tissue products that are composed mainly of recycled fibres. Cascades employs close to 12 000 men and women, who work in a hundred production units 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 trade on the Toronto Stock Exchange under the ticker symbol CAS.
and Public Affairs
Director, Investor Relations
Cascades Inc. (TSX: CAS), a leader in the recovery and manufacturing of green packaging and tissue paper products, announces the acquisition and installation of two new printing presses in its Québec plants, Norampac – Vaudreuil and Norampac – Drummondville , which specialize in manufacturing corrugated packaging products.
Charles Malo , Vice-President and Chief Operating Officer for Packaging at Norampac stated, "This major investment in Québec is part of our efforts to modernize Norampac's and Cascades' assets. Similar investments were made at several of Norampac's corrugated converting plants in Ontario , and productivity at the plants increased significantly. We believe that the investments in Québec will have the same positive spin-offs, allowing us to respond more quickly to our customers' needs, offer packaging products of greater quality, and increase our productivity."
The Evol presses, made by Japanese company Mitsubishi, offer the latest in printing technology, including high-speed production. The investment of more than $13 million will allow the Norampac plants to increase their productivity, their versatility and the quality of their products. The new press at the Vaudreuil plant has been in operation since September 2014, and the press at the Drummondville plant was commissioned at the beginning of November.
"The new state-of-the-art equipment is part of our plan to increase our productivity and market share by focusing on strategic sectors as a means of keeping the Company on track as we move forward. Today's gesture demonstrates the trust we are placing in the employees at the Vaudreuil and Drummondville plants. Cascades will continue to grow here, as it will in the rest of North America ," added Alain Lemaire , Cascades' Executive Chairman of the Board.
Founded in 1964, Cascades produces, converts and markets packaging and tissue products that are composed mainly of recycled fibres. Cascades employs close to 12 000 women and men, who work in over a hundred production units 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 trade on the Toronto Stock Exchange under the ticker symbol CAS .
SOURCE Cascades Inc.
Director, Investor Relations, Cascades Inc.
President and Chief Executive Officer
Norampac, a division of Cascades Canada ULC
Star Level Certification in Voluntary Protection Program Affirms Employee and Management Commitment to Creating a Safe Workplace
Sonoco (NYSE:SON) has announced that its Cascades Sonoco facility in Tacoma, Wash., was awarded Star Level certification in connection with OSHA's Voluntary Protection Program (VPP). The Star Program recognizes exemplary worksites that have achieved injury and illness rates at or below the national average in their industry. According to OSHA, the average VPP worksite has a lost workday incidence rate at least 50% below the average of its industry peers.
"Since the inception of the Cascades Sonoco joint venture back in 1992, safety has been a number-one priority," said Thomas Parenteau, plant manager. "We have a global health and safety policy put in writing, and it is signed by our CEOs. It says the health and safety of all employees shall be of the greatest interest to all levels of the organization, ranking in importance above production, quality, costs and service. It is something that we take very seriously because our employees are our most valuable asset. Achieving this certification involved a number of different initiatives including special training programs, safety audits and a high level of employee involvement and commitment. Safety is not a one-time event; it is an every second, every minute, every day focus. As proud as we are of this achievement, we understand the safety journey never ends."
"The team at the Tacoma site is a showcase for the principles of the Voluntary Protection Program, building exemplary safety and health programs through cooperation, management commitment and employees involvement. It is clear that Cascades Sonoco has a commendable program with proven effectiveness," stated Joel Sacks, Safety and Health Director with the State of Washington Department of Labor and Industries.
"Safety is the first thing we talk about at every meeting, which keeps it top of mind with everyone," said Parenteau. "Our mission, as it relates to safety, is to create an injury-free environment for our employees. We strongly believe that all injuries can and must be prevented. Safety is also strongly tied to the Guiding Principle of Sonoco, which is 'People build businesses by always doing the right thing.' Creating a safe work environment for our employees is certainly the right thing to do."
Cascades Sonoco is a 50/50 joint venture established in 1992 to bring together strong technology platforms for the coating and lamination of industrial papers and other substrates. Cascades Sonoco has four locations: two in the U.S. and two in Canada.
Founded in 1899, Sonoco is a global provider of a variety of consumer packaging, industrial products, protective packaging and packaging supply chain services. With annualized net sales of approximately $4.9 billion, the Company has more than 19,900 employees working in 335 operations in 33 countries, serving many of the world's best known brands in some 85 nations. Sonoco is a proud member of the 2013/2014 Dow Jones Sustainability World Index. For more information on the Company, visit our website at www.sonoco.com.
Founded in 1964, Cascades produces, converts and markets packaging and tissue products that are composed mainly of recycled fibers. The Company employs close to 12,000 employees, who work in 100 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 trade on the Toronto Stock Exchange, under the ticker symbol CAS.
Cascades Inc. (TSX: CAS) has announced that it will cease its Kraft paper manufacturing activities in the East Angus (Québec) plant because of unfavourable market conditions and the failure of discussions concerning the plant's transfer and turnaround. Close to 175 employees will be affected by the closure, which will come into effect by October 3, 2014 . By closing the plant, Cascades is withdrawing from the Kraft paper sector definitively.
"With the arrival of new competitors that convert newsprint paper machines to produce Kraft paper, and the ongoing weakening of market conditions for our products, the East Angus plant has not managed to maintain a competitive edge in the market despite significant investments and serious recovery efforts," explained Luc Langevin , President and Chief Operating Officer of Cascades Specialty Products Group. "Last November, we announced to employees our decision to withdraw from the industry. At the time, we offered them the plant debt free. After several months of ongoing efforts on the part of buyer Gino Lévesque, the Québec government and Cascades to come up with a financial package, the project was abandoned because of a lack of new investors. With the failure of the turnaround project and the loss of numerous key employees, today we are forced to announce the end of these activities."
"Naturally, we are very disappointed that the project failed," said Mario Plourde , President and Chief Executive Officer of Cascades. "However, we would like to thank the employees' provisional committee, the buyer and the Government of Québec for the work they put into the project over several months in the attempt to save jobs. Since our strategic orientations are focused on growth in the packaging, tissue paper and recovery sectors, it became impossible to keep the plant open with its inability to regain profitability. Following today's announcement, Cascades will assume all of the plant's responsibilities, notably the employee pension plan."
To assist the employees affected by the shutdown, Cascades will do everything in its power to relocate personnel to other units. It will work with the union and the governments to reduce the impact of the announcement on the workers and the community.
Cascades would like to extend its sincere thanks to the employees of the plant for their loyalty over the years. It hopes that it can rely on them to continue to serve its customers until the plant closes.
It is important to note that this announcement does not concern the coated boxboard manufacturing plant located in East Angus .
SOURCE Cascades Inc.
Cascades Fine Papers Group, a leader in the manufacturing of ecological fine papers and security papers in Canada, has joined Two Sides, the rapidly growing non-profit organization that promotes the responsible production, use and sustainability of print and paper.
"We're very excited to have Cascades Fine Papers Group join us. They have been a North American leader in producing fine papers with a low environmental footprint and are a great addition to our network as Two Sides begins exploring a Canadian presence. We look forward to working with them to spread the great environmental story of print and paper," says Two Sides President Phil Riebel.
"We are proud to produce paper. It is a beautiful, useful, recyclable and renewable tool, and we make it in a sustainable way. It is a pleasure for us to support an organisation that explains why people shouldn't shy away from paper and promotes the strengths and benefits of this great resource." says Julie Loyer, communications and sustainable development, Cascades Fine Papers Group.
Cascades, North America’s fourth largest producer of towel and tissue paper, has just announced that the company has been awarded “Environmental Strategy of the Year” by Pulp & Paper International at the 2013 PPI Awards in Dubai. In addition, the Cascades® Moka® product line won the company a second award for “Innovative Product of the Year.” The internationally-renowned PPI Awards are the only global awards dedicated to recognizing the achievements of companies, mills, and individuals in the pulp and paper sector.
“We are honored to receive these awards for our Cascades Moka line and for our commitment to sustainable development”
“We are honored to receive these awards for our Cascades Moka line and for our commitment to sustainable development,” said Mario Plourde, president and CEO of Cascades. “Leadership in sustainability and innovation has always been in the heart of everything we do at Cascades; it is part of our DNA. This award is an affirmation that Cascades is leading the way for the industry, both for its novel product offering and processes.”
“We would like to thank Pulp and Paper International for this great recognition,” said Suzanne Blanchet, president and CEO of Cascades Tissue Group. “This success was made possible by the contribution of our valued employees and partners, with whom we want to share this award.”
The “Innovative Product of the Year” award was presented to the Cascades Moka product line, the first ever bathroom and facial tissue made from unbleached recycled fiber to hit the North American market. The Cascades Moka tissue products were praised by offering uncompromised softness and hygiene qualities while significantly reducing environmental impact. Their uniqueness has been well-received on the marketplace, translating into strong sales exceeding expectations.
The “Environmental Strategy of the Year” award was based on Cascades’ commitment to reducing its ecological impact through the continuous improvement of its processes, unique recycling infrastructure, and use of recycled fibers in packaging and tissue products. Cascades led the way in environmental reporting with its 2010-2012 and 2013-2015 sustainable development plans, which include objectives to improve environmental impact in every step of production, distribution, and waste processing. These advances have enabled Cascades to use five times less water and two times less energy than the North American paper industry average.
TM The beige color of the paper is a trademark of Cascades Canada ULC.
Cascades has been once again rewarded at the Canadian Printing Awards with two Gold Awards, the first for Most Environmentally Progressive Vendor and the second for Most Environmentally Progressive Printing Technology for its new Cascades Enviro Jet paper.
The Canadian Printing Awards acknowledges excellence in quality printing, environmental initiatives and industry contribution. Most Environmentally Progressive Vendor has been granted to Cascades for its ongoing efforts. From innovative new products and third party certifications to ecological production processes, this award recognizes the company's concrete involvement and substantial benefits to the environment.
The newly launched Cascades Enviro Jet has also been rewarded as the Most Environmentally Progressive Printing Technology. This paper is the first and only inkjet substrate with 100% post-consumer fiber made in North America which allows paper users to be colorful, productive and green. According to Normand Champagne, General Manager, Sales and Marketing, Cascades Fine Papers Group, "Cascades Enviro Jet was a real challenge for our development team as we wanted to offer a competitive ecological sheet that prints vivid colors and performs on the different types of inkjet presses. Mission accomplished!"
As per Jon Robinson, Editor of PrintAction magazine, "This year's Canadian Printing Awards program was our most successful to date, in terms of the number and quality of entries submitted from across the country. Cascades Fine Papers Group showed once again that it is at the forefront of this environmental progress, both as a company and through innovative products like Cascades Enviro Jet."
Cascades revealed its three-year plan, which provides the framework for the company's efforts in respect of sustainable development for 2013-2015. The document, diligently developed by a steering committee and based on consultations with Cascades' stakeholders, comprises nine issues, each of which has been attributed a performance indicator and a goal.
Cascades' 2013-2015 Sustainable Development Plan is a continuation of the previous plan, which was in effect from 2010 to 2012. "Our 2010-2012 plan was a first for Cascades, and it has likely set a precedent within the industry," explains Mario Plourde , President and Chief Executive Officer of Cascades. "We are very proud of our accomplishments to date, and we are pleased to have the opportunity to incorporate the lessons we learned in our second plan, which is better adapted to our sector."
Maintaining a leadership position in sustainable development
With this renewed approach, Cascades hopes to strengthen its leadership position in respect to responsible business practices and focus its efforts on nine issues: energy, waste, water, sustainable procurement, innovation, financial performance, health and safety, employee mobilization, and community involvement. "This is a successful transition toward more tangible objectives that are better aligned with Cascades' operational and financial orientations, and we look forward to meeting this new challenge," adds Alain Lemaire , Executive Chairman of the Board. "Our stakeholders played a key role in helping to define the nine objectives in the 2013-2015 plan. We would like to extend a special thank you to our employees, who are extraordinarily well motivated, and who are already at work on our new objectives," concludes Lemaire.