Cascades Becomes Majority Shareholder of a Texas Tissue Converting Plant
Longhorn Paper Converting operates a tissue converting plant in Grand Prairie, Texas (USA).
August 12, 2016 - Cascades Inc. announced that it has taken a majority position in Longhorn Paper Converting, a tissue converting plant in Grand Prairie, Texas, USA.
The terms and conditions of the deal were not disclosed.
While recent investments have consolidated Cascades' presence on the American west coast, this latest initiative will expand its coverage of the US even further. Owing to its strategic location, this converting plant will foster synergies and enhance Cascades' integration rate in the region by converting parent rolls manufactured in other Cascades plants.
"This heightened presence in south-central US is a concrete example of our company's desire to serve its customers coast-to-coast," commented Mario Plourde, President and Chief Executive Officer of Cascades. "This initiative, which is part of our strategic development plan, will allow us to continue to grow in a region that offers potential for this core segment of our business."
Jean Jobin, President and Chief Operating Officer of Cascades Tissue Group, added, “This investment has widened our presence in the US and will allow to take another important step toward achieving our objective of expanding into key markets in the southern and western United States. It will also enable us to provide even greater quality and flexibility to our American customers. Moreover, Longhorn Paper Converting offers us medium-term growth opportunities.”
Cascades Tissue Group, a division of Cascades Canada ULC, is the fourth largest tissue paper manufacturer in North America. To learn more, please visit: www.cascades.com.
SOURCE: Cascades Inc.