Canada's Cascades buying 2 recycling businesses

Canada's Cascades buying 2 recycling businesses, Sonoco Recycling and Yorkshire Paper

• On 2:25 pm EDT, Tuesday September 22, 2009

NEW YORK (AP) -- Cascades Inc., a Quebec-based packaging and tissue maker, said Tuesday it is buying the Canadian assets of Sonoco Recycling and the recovery assets of Yorkshire Paper Corp., two paper and plastic recycling businesses.

The value of the deals was not immediately available.

Yorkshire Paper operates in New England and in upstate New York, and Sonoco Recycling, which is being sold by Sonoco Products Co., operates across Canada, said Cascades, which trades on the Toronto Stock Exchange.

Upon completion of the deals, Cascades unit Metro Waste Paper Recovery will have expanded its collection capacity by 1.4 million metric tons per year, or about 20 percent.