Cascades Buys Rittman's assets from Caraustar
Aug. 7, 2006 (Press Release) - Cascades Inc. announces the acquisition of certain assets of the Rittman (Ohio) coated recycled board mill from Caraustar Industries, Inc. for an amount of US$0.5 million, through exercise of the option it acquired on April 21, 2006, when it announced the purchase of the Sprague (Connecticut) coated recycled board mill from Caraustar.
Commenting on the transaction, Eric Laflamme, president and chief cperating officer of Cascades Boxboard Group, North America, stated: "We are pleased to announce this transaction and we will spare no efforts to satisfy the needs of our new customers. We will service Rittman's customers from our newly acquired and existing facilities, which will enable us to improve the capacity utilization rate and the profitability at these mills."
SOURCE: Cascades Inc.