Careo new name for Cascades-Reno De Medici in Europe

April 29 2008 Careo is the new name of the merged businesses of Cascades Europe and Reno De Medici.

The recycled cartonboard businesses of Cascades Europe and the Italian group Reno De Medici have, as announced earlier, merged. The merger was finalized on March 1st and offers a combined annual capacity of over 1,100 million tons of recycled boxboard. Then name of the new company is Careo, and the head office is in Milan, Italy.

Under the new idendity of Careo all recycled products of Cascades and Reno de Medici brands, as well as Cascades Europe's virgin fiber products - produced by Djupafors mill, Sweden, and La Rochette mill, France - will be commercially available. The present product names will remain unchanged.

Careo is a joint venture with Cascades having a shareholding of 30 percent and Reno de Medici 70 percent. /AA