GE funds Cascades' greenfield recycled linerboard mill

GE Capital recently announced that it is the administrative agent for a total of $228.9 million in project finance credit facilities to fund the development, construction and operation of Greenpac Mill, LLC. Greenpac is a greenfield recycled linerboard mill, by Norampac, a division of Cascades, Inc. and other investors. GE Capital Markets acted as sole lead arranger and sole book runner.

  Founded in 1964 in Montreal, Canada, Cascades converts produces and markets packaging and tissue products composed mainly of recycled fibers. Cascades’ Greenpac Mill, LLC project will be located in Niagara Falls, NY. Once operational, the mill will use 100 percent recycled fiber input to produce approximately 526 thousand tons of linerboard per year. According to GE, the building and machinery will be designed for optimal energy efficiency and process water will be treated and reused in order to reduce consumption.