Cascades Strategic Update Unveiled Action Plan to Boost Tissue Group Profits

SEATTLE (Scrap Monster): Cascades, Inc. announced its 2022-2024 strategic update, which commits to accelerate value creation and improve profitability. Also, the strategy introduces new financial targets and a detailed plan to improve profitability of its Tissue Group.

As part of growing share in target markets in packaging business, the company aims to complete the start-up of Bear Island in Q4 this year. In addition to increasing integration with new converting capacity in the U.S., it also plans to accelerate the pace of new sustainable product development and commercial launches.

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The company’s immediate priority will be to execute a comprehensive action plan that will accelerate profitability and strengthen the fundamentals of the tissue business. It will limit per annum investments to $35 million through 2024, focusing on execution and efficiency of production, especially in its U.S. operations.

Mario Plourde, President and CEO, Cascades said that the plan aims to generate value for shareholders, accelerate profitability improvement and strengthen its tissue business, while continuing to prioritize its sustainability efforts. The plan aims to generate $5 billion of revenue in 2024, he added.