Company looks to accelerate profitability following pandemic disruptions
Cascades’ tissue business has been particularly impacted by the COVID-19 (coronavirus) pandemic. In addition to a decline in demand, profitability has been negatively impacted by rising raw material costs and difficulty transporting goods. Between 2017 and 2020, the company completed significant investments to modernize and consolidate its assets and focus on volume and profitability improvements, particularly with the purchase of Orchids’ assets. With new capital investments in the tissue segment projected to be limited to $35.0 million annually through 2024, Cascades’ forward-looking statements indicate that it will aim to achieve segment profit margins between 9.0% and 10.0% by 2024.
COVID|Competition|ESG|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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