Cascades reports temporary delays to Bear Island mill construction (recyclingtoday.com)

In its second quarter financial report, Kingsey Falls, Quebec-based packaging producer Cascades Inc. has announced its Bear Island conversion project in Ashland, Virginia, has been impacted by the “current inflationary environment.”

The company says higher cost levels combined with labor and material availability constraints have led to temporary delays in certain construction milestones and have increased the total cost of the project near $470 million to $485 million. The conversion originally was projected to cost approximately $380 million when the project first was announced in October 2020.

“Our team is working closely with contractors to mitigate any potential delay caused by these elements in order to meet the targeted mid-December 2022 start date,” Cascades President and CEO Mario Plourde says.
more at: https://www.recyclingtoday.com/article/cascades-bear-island-conversion-project-cost-increases-reports-second-quarter-2022-results/

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