Cascades Announces Two Acquisitions
Cascades Specialty Products Group, based in Kingsey Falls, QC, recently announced the acquisition of the Canadian assets of Sonoco Recycling, as well as the recovery assets of Yorkshire Paper Corporation through its subsidiary Metro Waste Paper Recovery. Both companies provide the retail sector with on-site collection services of recyclable materials, such as corrugated containers, paper and plastics.
"These acquisitions are in line with our strategic objective of growing our business in Canada and in the northeastern United States. These assets perfectly complement our existing infrastructure and will allow us to better serve the diversion needs of our retail customers and to deliver our recovery, said Al Metauro, CEO of Metro Waste.
Once completed, these transactions will enable Metro Waste to increase its collection capacity by 20 percent, which represents 1.4 M tons per year.
"Recycled fibers represent more than two-thirds of the raw material used by Cascades. The acquisitions will therefore help to further ensure a steady supply of raw material to Cascades' mills, while providing more room to grow in the development of environmentally sustainable products," said Mario Plourde, president and COO of Cascades.
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