Cascades announced that its corrugated medium manufacturing plant in Niagara Falls, New York, will be permanently closed as part of the optimization of the company’s packaging production platform. Production will end no later than September 3, 2025.
Cascades to Permanently Close Its Corrugated Medium Plant in Niagara Falls, New York
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The first quarter result was a clear sequential improvement. As we expected, the improvement was mainly derived from stronger sales volumes and stronger price positions within liquid packaging board. We also experienced favorable product mix changes in both regions. Despite headwinds of higher costs for energy, logistics and fiber in Europe, the Group’s EBITDA margin strengthened to 11% in the quarter. Net sales for the first quarter declined by 9% to SEK 10,423 million (11,495). Currency changes had a positive impact of 2%. The organic* and currency-neutral net sales declined by 9%, mainly due to lower sales prices and reduced sales volumes. The Group’s sales volumes totaled 921 ktons (943), negatively impacted by curtailments of production in North America.
Third Quarter 2020 Highlights: *Third quarter income from continuing operations was $29 million, $43 million better than comparable quarter in 2019 *Third quarter Adjusted EBITDA of $55 million, up $19 million from comparable quarter in 2019 primarily driven by higher lumber prices, improved reliability in High Purity Cellulose operations and lower costs *Generated $34 million of Free Cash Flow through the third quarter driven by reduced capital expenditures and improved working capital *Improved liquidity of $196 million, excluding a $33 million cash tax refund expected in fourth quarter plus an additional $22 million expected over the next twelve months
Over five years after the closure of its kraft pulp mill in Pictou County, Northern Pulp has announced it will sell its assets, effectively ending discussions surrounding the construction of a new facility in Nova Scotia.
The decision follows the failure of a restart project developed as part of an agreement reached with the Nova Scotia government in May 2024. A feasibility study conducted under this agreement concluded that the proposed project would not achieve the required 14% internal rate of return to justify the investment.
The planned facility—a next-generation biorefinery in Liverpool with an estimated cost of more than $2.5 billion—was ultimately deemed financially unviable by its proponents.