Cascades, Inc. Concludes Sale of its New York Packaging Plant

SEATTLE (Scrap Monster): Quebec, Canada-based Cascades Inc. has announced that it has completed the sale of its Maspeth, New York packaging plant.

According to the company press release, the sale of the land and building of its New York facility was completed for $72 million. The assets are being sold to a private buyer, it said. Cascades Inc. will use the facility until the end of this year, when the plant is scheduled to close down completely.

Earlier in August 2017, the company had announced plans to close the 55-15 Grand Avenue facility, as part of its optimization strategy. The company had cited physical limitations of the site as the primary reason for closure.

The decision had led to nearly 150 layoffs. However, the company had extended all possible support to those affected by the closure. Apart from providing offer for relocation to Cascades’ other nearby facilities, it had also come up with a wide range of tools to assist employees in search for new employment.

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Meantime, Charles Malo , President and Chief Operating Officer of Cascades Containerboard Packaging stated that the entire volume of activities will be redeployed to the company’s other units over the course of the year. Further, he noted that the reorganization of activities will be carried out in such a manner so as to ensure smooth transition to all its existing customers in the region. The company will continue to offer quality packaging services to customers as before, Malo noted.

Cascades Inc. had acquired Maspeth containerboard packaging facility way back in 2001. The facility used to manufacture corrugated products from linerboard and corrugated medium. The products manufactured at the Maspeth facility served food, cosmetics and pharmaceutical industries, mainly in Metropolitan New York, New Jersey, Connecticut and Eastern Pennsylvania markets.

During 2017, the company had cut ribbon on a state-of-the-art containerboard packaging plant in Piscataway, New Jersey, as part of its reorganization plans.