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Cascades announces agreement for the acquisition of Orchids Paper Products assets
Cascades announces agreement for the acquisition of Orchids Paper Products assets ...
About this update from Cascades Inc.
[{"type":"text","content":"\n\n\n\nCascades announces agreement for the acquisition of Orchids Paper Products assets\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen4{\nBORDER-TOP:1pt; BORDER-RIGHT:black 1pt solid; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt solid; PADDING-RIGHT:0.50em\n}\n.prngen5{\nBORDER-TOP:1pt; BORDER-RIGHT:black 1pt solid; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prnsbls{\nBORDER-LEFT:black 1pt solid\n}\n.prntblns{\nBORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n.prnsbbs{\nBORDER-BOTTOM:black 1pt solid\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prnrbrs{\nBORDER-RIGHT:black 1pt solid\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n.prnsbts{\nBORDER-TOP:black 1pt solid\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prnvat{\nVERTICAL-ALIGN: TOP\n}\n.prnsbl1{\nBORDER-LEFT:1pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nKINGSEY FALLS, QC, July 1st, 2019\n\n\n\nKINGSEY FALLS, QC, July 1st, 2019 /CNW Telbec/ - Cascades (TSX: CAS) (\"the Company\"), a leader in the recovery and manufacturing of packaging and tissue products, announces that it has entered into a definitive agreement for the acquisition of substantially all of the assets of Orchids Paper Products Company (\"Orchids\" or \"Orchids Paper\") following the approval thereof by the United States Bankruptcy Court for the District of Delaware (subject to completion of definitive documentation). Cascades will pay a cash consideration of US$207 million, financed by the Company's credit facilities. The assets to be acquired include the Barnwell, South Carolina and Pryor, Oklahoma operations, as well as certain assets, the supply and other commercial arrangements with Fabrica de Papel San Francisco, S.A. de C.V. (\"Fabrica\"), based in Mexicali, Mexico, and certain of its affiliates. Cascades anticipates the transaction will close in August or September 2019, subject to the satisfaction of custom...