Cascades Sells Thunder Bay Paper Mill
Jan. 7, 2008 - Cascades said it has sold its coated fine papers mill in Thunder Bay, in Northern Ontario, Canada.
In addition, Cascades will contribute $4.5 million to the buyer, Thunder Bay Fine Papers Inc., in order to support the start-up of the plant.
“Cascades is pleased to announce this transaction, which will allow us to participate in the creation of new jobs in the community while limiting the costs associated with maintaining the mill,” said.Mario Plourde, president and COO of Cascades Specialty Products Group.
Cascades ceased operations at the Thunder Bay mill in January 2006 because of unfavorable economic conditions.
See related stories:
· Idled Thunder Bay Cascades Back In Operation - Northern Ontario Business
· Cascades to Close Thunder Bay Operations (11/22/05)