Cascades Provides an Operational Update Regarding COVID-19
29 March 2020
KINGSEY FALLS, QC, March 23, 2020 /PRNewswire/ - Cascades Inc. (TSX: CAS), a leader in eco-friendly recovery, packaging and hygiene solutions, provides an update regarding the evolving COVID-19 landscape. Together with prioritising the health and wellbeing of our employees, Cascades is adhering to the guidelines provided by government officials in Canada and the United States. Given the essential nature of our packaging and hygiene products, all of our facilities continue to operate. Cascades is working closely with its customers to ensure that their product needs, and those of their customers, are fulfilled.
Cascades is closely monitoring the situation and has introduced comprehensive and rigorous hygiene policies in every one of our operations to ensure the health and safety of our employees. The Company is committed to ensuring the continuity of our operations and supporting our customers, partners and the communities in which the Company operates.
In the past few days several U.S. states have taken steps to restrict the activities of businesses and other organizations. In each of these cases, all of Cascades' activities have been recognized as "essential" or "life sustaining". Additional U.S. states and/or Canadian provinces may initiate similar measures in the short term. The Company continues to monitor the situation daily. Cascades believes that it has an economic and social responsibility to maintain our operations and is acutely aware that our products play a vital role in the lives of consumers and in the supply chains of our customers across North America. The Company's packaging products are important components in the distribution of critical goods and food products, and Cascades' hygiene products are essential daily necessities for individuals, families and businesses.
Cascades invites you to visit our corporate website (www.cascades.com) for a more detailed overview of the steps we are taking to ensure the safety and well-being of our employees and the continuity of our business operations. Updated information regarding the Company's European Boxboard segment, via Cascades' equity ownership in the public Italian company Reno de Medici S.p.A. ("RDM"), can be found on the Reno de Medici website (www.rdmgroup.com). As paper and cartonboard have been deemed essential by European governments, all RDM mills are operating, and the company is working on emergency plans to secure deliveries to customers.
Founded in 1964, Cascades offers sustainable, innovative and value-added packaging, hygiene and recovery solutions. The company employs 11,000 women and men across a network of over 90 facilities in North America and Europe. Driven by its participative management, half a century of experience in recycling, and continuous research and development efforts, Cascades continues to provide innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the entire planet. Cascades' shares trade on the Toronto Stock Exchange under the ticker symbol CAS. Certain statements in this release, including statements regarding future results and performance, are forward-looking statements (as such term is defined under the Private Securities Litigation Reform Act of 1995) based on current expectations. The accuracy of such statements is subject to a number of risks, uncertainties and assumptions that may cause actual results to differ materially from those projected, including, but not limited to, the effect of general economic conditions, decreases in demand for the Corporation's products, increases in raw material costs, fluctuations in selling prices and adverse changes in general market and industry conditions and other factors listed in the Corporation's Securities and Exchange Commission filings.
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