Cascades buys majority stake in Texas tissue converting plant
Company looks to further shore up position in U.S. with investment
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.