Cascades Inc. announced
net earnings of $22 million for the first quarter, compared to $11 million for
the same period last year. Net sales increased by 4% during the first quarter
of 2001 amounting to $733 million compared to $707 million for the same period last
year.
Excluding unusual
items, net earnings for the first quarter of 2001 were $13 million. During the
last quarter, Cascades realized a net unusual gain of $11 million resulting
from the sale of shares and the dilution of its investment in Boralex Inc.
Cascades also recorded a $2 million loss representing its share of the
restructuring costs incurred by its affiliated company Dopaco Inc.
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