Cascades to draw on credit facilities to buy Orchids Paper assets

By Wendy Van Sickle

Columbus, Ohio, July 1 – Cascades Inc. will draw down on its credit facilities for its acquisition of substantially all of its assets of Orchids Paper Products Co., according to a press release.

Cascades has agreed to pay $207 million for the assets, which include Orchids Paper’s Barnwell, S.C., and Pryor, Okla., operations, as well as equipment and various commercial arrangements with Fabrica de Papel San Francisco, SA, based in Mexicali, Mexico.

The transaction is expected to close in August or September.

Cascades makes packaging and tissue products that are composed mainly of recycled fibers. The company is based in Kingsey Falls, Quebec.

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