Cascades announced that it will cease the operations of its Cascades Fine Papers Group Inc., Thunder Bay Division (Ontario) plant which specializes in the manufacturing of coated papers. Approximately 375 employees will be effected.
The current economic situation within the pulp and paper industry, along with the recent sales price decrease in the fine papers sector and the unfavorable short and long term perspectives compel Cascades to close the plant. Moreover, the reduced demand and increased price of raw material and energy, combined with an increase of the Canadian dollar compared to the US dollar strongly affected the plant's economic performance.
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