Facility has reached its physical limits, selling property for $72 million.
KINGSEY FALLS, Que. — Cascades Inc. has announced plans to close its packaging plant in New York City by the end of next year.
The closure will result in the layoff of 148 people.
The Quebec-based paper company says the facility has “reached its physical limits.” The decision was made as part of its modernization and optimization efforts in the northeastern US.
The property has been put up for sale for US$72 million.
Cascades, which produces, converts and sells packaging and tissue products, employs 11,000 people in North America and Europe.News from © Canadian Press Enterprises Inc. 2016