Stockwatch – Cascades has installed Mitsubishi Evol-100 presses in two plants
Stockwatch – Green packaging and paper products manufacturer Cascades, Inc. (TSE:CAS, Mkt cap 620.13M, P/E – , Div/yield 0.04/2.43, EPS -0.64, Shares 94.10M) has acquired and installed two new printing presses at its Quebec plants in Vaudreuil and Drummondville at a cost of nearly $13 million. The facilities are operated by its Norampac Inc. division.
The Kingsey Falls-based firm says the move has been taken to modernize Norampac’s and Cascades’ assets and it’s hoped the new state-of-the-art equipment will increase its output and efficiency.
In a statement, Cascades outlined how it will be installing Evol-100 presses, manufactured by Mitsubishi Heavy Industries, Ltd., at its Vaudreuil and Drummondville plants in Quebec that make corrugated packaging.
Norampac vice-president and chief operating officer Charles Malo highlighted how similar investments were made at several of the company’s corrugated converting plants in Ontario, which led to a significant boost in production levels.
“We believe that the investments in Quebec will have the same positive spin-offs, allowing us to respond more quickly to our customers’ needs, offer packaging products of greater quality, and increase our productivity,” Malo said.
The new press at the Vaudreuil plant has been up and running since September 2014, according to Cascades, while the press at the Drummondville plant was commissioned at the beginning of November.
Cascades’ executive board chair, Alain Lemaire, says the business will continue to grow in Quebec, as it will in the rest of North America. He added that it plans on increasing market share “by focusing on strategic sectors as a means of keeping the company on track as we move forward”.
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