Cascades buys majority stake in Texas tissue converting plant
by Canadian Manufacturing.com Staff
Company looks to further shore up position in U.S. with investment
The Quebec firm said the interest in the Texas plant will create synergies with its nearby facilities. PHOTO: Cascades
KINGSEY FALLS, Que.—Quebec-based tissue paper company Cascades Inc. has bought a controlling interest in a Grand Prairie, Texas tissue converting plant.
Though Cascades did not release the financial terms of the agreement, the position in Longhorn Paper Converting is the latest in a string of company initiatives to build market share and production capacity in the U.S.
“This heightened presence in south-central U.S. is a concrete example of our company’s desire to serve its customers coast-to-coast,” Mario Plourde, the company’s president and CEO, said. “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.”
The deal follows a Cascades plan to build a $64 million tissue plant in the northwest state of Oregon revealed in June.
The Kingsey Falls, Que.-based company said the Texas plant’s location will allow it to create synergies will other nearby sites.
