Cascades to close Thunder Bay mill

Cascades Inc. announced today it will shut down its fine papers plant in Thunder Bay, affecting 375 employees.
Cascades said the plant, which specializes in the manufacturing of coated papers, will close by next Jan. 21.
“The current economic situation within the pulp and paper industry, along with the recent sales price decrease in the fine papers sector and the unfavourable short- and long-term perspectives, compel Cascades to close the plant,” the company said.
Cascades said the plant is racking up heavy losses each month.