Solifor Acquires Cascades Forest Lands in Quebec

On Wednesday, Solifor Forest Asset Management and Cascades Inc. announced the completion of a structuring partnership in Quebec’s Lower St. Lawrence region, including Solifor’s acquisition of 10,500 hectares (26,000 acres) of private forest land in Kamouraska and Témiscouata.

Solifor acquired the lands from Cascades in a CA$20 million transaction completed March 31. The properties have been managed by Cascades for more than 25 years, and the agreement will help secure the long-term fiber supply for Cascades’ mill in Cabano.

In remarks accompanying the announcement, Solifor President and CEO André Gravel said:

“Cascades’ long-term management of its natural and plantation forests in the Lower St. Lawrence region has been exemplary and is now resulting in remarkable growth. These lands fit well into Solifor’s portfolio of properties, which prioritizes responsible, balanced, and sustainable forest management, focused on optimizing their long-term value, the harmonious coexistence of different land users, and a concrete contribution to the fight against climate change.”

Cascades President and CEO Hugues Simon added:

“This is a natural and advantageous partnership for both our organizations. We are pleased that Quebec interests are continuing the responsible management of assets that we were using very little, while also giving us access to increased supply capacity from Solifor, which owns large tracts of forest land near our operations. This agreement secures a reliable supply and ensures the competitiveness of our Cabano plant.”