(Reuters) - Cascades Inc (CAS.TO), a packaging and paper products company, will be closing its plant in Quebec by the end of the first quarter of 2013.
The closure of the Lachute folding carton plant will affect 155 employees, the company said.
Cascades also invested C$22 million ($22.19 million) in several folding carton and microlithography plants of its Norampac division.
The Lachute plant’s customers will be gradually transferred to other Norampac facilities.
Cascades shares closed at C$4.90 on the Toronto Stock Exchange on Wednesday.
($1 = 0.9916 Canadian dollars)
Reporting by Shounak Dasgupta in Bangalore; Editing by Joyjeet Das