Cascades sells its last remaining site in Europe

Photo courtesy of Cascades
15 Oct 2019 − 

Cascades has largely withdrawn from the European market with the sale of its last remaining site there. The group is now only present in Europe through its stake in Reno de Medici.

Canadian packaging and tissue products producer Cascades sold its last remaining production facility Cascades Rollpack in north-eastern France to French company GEI, a consortium of several French entrepreneurs. A joint press release by the two parties informed that GEI has acquired the majority share in Cascades Rollpack while Cascades Rollpack's CEO Jean Goulet acquired a minority holding. The company was renamed Rollpack on 1 October.

Rollpack offers industrial packaging solutions. The company is specialised in extrusion laminating and produces special liners for the paper and the corrugated packaging industry, amongst others. Mr Goulet put the site's production capacity at 70,000 tpy. About 80 persons are employed at Rollpack. "The company has experienced a steady growth over the past two decades and we plan to expand furthermore through traditional and newer markets over the coming years," Mr Goulet remarked.

Cascades Rollpack was Cascades' last production site on the European market. In the past years, the group gradually sold all of its plants in Europe. The latest transaction dates back to 2016 when it sold its last remaining board plant in Europe, Cascades S.A.S. in La Rochette, France, to Italian board manufacturer Reno de Medici. However, Cascades still owns a majority stake of 58% in Reno de Medici.

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