Cascades Tissue Group Acquires the Assets of Newstech
Sept. 1, 2006 (Press Release) - Cascades Tissue Group announces that it has acquired the assets of Newstech MD, LP located in Hagerstown, Maryland. The deinking mill was built in 1995 and has not been operational since the spring of 1997. It is equipped with two lines of deinking pulp and has a total production capacity of 400 tonnes per day.
In commenting on this acquisition, Suzanne Blanchet, President and Chief Executive Officer of Cascades Tissue Group, stated: "This transaction enables us to acquire excellent production equipment at a very attractive price. Over the next few months, we will use them either to improve our production of deinking pulp or in the production of tissue paper."
SOURCE: Cascades Tissue Group