Weyerhaeuser Company announced the completion of the sale of its liquid packaging board business to Nippon Paper Industries Co., Ltd. for $285 million in cash. Weyerhaeuser expects to use a substantial portion of the approximately $225 million of after-tax proceeds for repayment of debt. The liquid packaging board business consists of one mill located in Longview, Washington, with an annual capacity of 280,000 tons. "Nippon Paper Industries is acquiring a strong portfolio of high quality products and a well-regarded employee team that has contributed much to Weyerhaeuser over the years," said Doyle R. Simons, president and chief executive officer. "This transaction further focuses our company as we work together to be the world's premier timber, land, and forest products company."
Cascades Inc. (TSX: CAS), a leader in ecological recycling, packaging and hygiene solutions, is proud to have won the Ruby Award for innovation of the year in the confectionery industry thanks to its recyclable and insulating container northbox®.
Each year, the Ruby Awards recognize a product in the confectionery market that is a break-through innovation that helps advance the industry. This award is presented by the National Confectioners Association (NCA) during the Sweets & Snacks Expo, this year held in Chicago .
With the rise of e-commerce, there is an urgent need to reduce the environmental footprint of the thermal packaging used by the confectionery industry. Packaging is now an integral part of the brand experience, and the new generation of buyers understands its impact on the environment. Cascades is proud to be part of the solution with its isothermal container northbox® made of 100% recycled cardboard, which was designed to be recycled at the end of its life: a first for North America .
“Our most recent innovation, the northbox® level 2 insulator, is perfectly suited to parcel delivery of temperature-sensitive products during the summer season. We are delighted to offer the confectionery industry a recyclable alternative that preserves the freshness and integrity of their products during transport. We are very proud to have received this award,” said Luc Langevin , President and Chief Operating Officer of the Cascades Specialty Products Group.