**UNITED STATES**

**SECURITIES AND EXCHANGECOMMISSION**

**Washington, D.C.  20549**

 

**FORM 40-F**

 

| **o**  | ** ** | **REGISTRATION STATEMENT PURSUANT  TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934**              |
|--------|------------|-------------------------------------------------------------------------------------------------------------|
|   |       |                                                                                                        |
| **x**  | ** ** | **ANNUAL REPORT PURSUANT TO SECTION 13(a) OR 15(d) OF  THE SECURITIES EXCHANGE ACT OF 1934** |

 
| **For the fiscal year ended December 31, 2008** | **Commission File Number 333-105024** |
|------------------------------------------------------|---------------------------------------|

 

**CASCADES INC.**

(Exact name of Registrant as specified in its charter)

 

**Not Applicable**

(Translation of Registrant’s name into English)

 

**Quebec, Canada**

(Province or other jurisdiction of incorporation or organization)

 

**2600**

(Primary Standard Industrial Classification Code Number)

 

**98-0140192**

(I.R.S. Employer Identification Number)

** **

**404 Marie-Victorin Blvd.**

**Kingsey Falls, Quebec**

**Canada J0A1B0**

**(819)363-5100**

(Address and telephone number of Registrant’s principal executiveoffices)

 

**CascadesUSA Inc.**

**148 Hudson River Road**

**Waterford, NY 12188**

**(518) 238-1900**

(Name, address (including zip code) and telephone number (includingarea code) of agent for service in the United States)

 

Securities registered or to be registered pursuant to Section 12(b) ofthe Act: **Not Applicable.**

 

Securities registered or to beregistered pursuant to Section 12(g) of the Act: **Not Applicable.**

 

Securities for which there is areporting obligation pursuant to Section 15(d) of the Act: **Not Applicable**

 

This Form 40-F is beingfiled with the Securities and Exchange Commission pursuant to Cascades Inc.’sobligations to provide reports under each of the indentures governing Cascades’71⁄4% Senior Notes due 2013 and 63⁄4% Senior Notes due 2013.

 

For annual reports, indicate bycheck mark the information filed with this Form:

 
| x | Annual information form | x | Audited annual financial statements |
|---|-------------------------|---|-------------------------------------|

 

Indicate the number ofoutstanding shares of each of the issuer’s classes of capital or common stockas of the close of the period covered by the annual report:

 

****98,569,051 ****shares of common stock outstanding asof December 31, 2008

 

Indicate by check mark whetherthe Registrant by filing the information contained in this Form is alsothereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) underthe Securities Exchange Act of 1934 (the “Exchange Act”). If “Yes” is marked,indicate the file number assigned to the Registrant in connection with such Rule.

 
| Yes | o | 82-                           | No | x |
|-----|---|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|----|---|

 

Indicate by check mark whetherthe Registrant (1) has filed all reports required to be filed by Section 13or 15(d) of the Exchange Act during the preceding 12 months (or for suchshorter period that the Registrant was required to file such reports) and (2) hasbeen subject to such filing requirements for the past 90 days. 

 
| Yes | o | No | x |
|-----|---|----|---|

 

 

 

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**Annual Audited Consolidated Financial Statements**

 

For the Annual AuditedConsolidated Financial Statements, including the Auditors’ Report with respectthereto, of Cascades Inc. (the “Registrant” or “Cascades” or the “Company”),see pages 61 to 100, respectively of Cascades’ 2008 Annual Report attachedhereto as Exhibit 13.2.

 

#### **Management’sDiscussion and Analysis**

#### ** **

For management’s discussion and analysis of financial position andresults of operation, see pages 26 to 60 of Cascades’ 2008 Annual Reportattached hereto as Exhibit 13.3.

 

## **Disclosure Controls and Procedures**

## ** **

Disclosurecontrols and procedures means controls and other procedures that are designedto ensure that information required to be disclosed by the Registrant in thereports that the Registrant files or submits under the Securities Act of 1934(the /Exchange Act”) is recorded, processed, summarized and reported within thetime periods specified under Canadian securities laws and specified in theUnited States Securities and Exchange Commission’s (the “SEC”) rules andforms and that such information required to be disclosed by us in the reportsthat we file or submit under the Exchange Act is accumulated and communicatedto management, including the President and Chief Executive Officer (CEO) andthe Vice-President and Chief Financial Officer (CFO), to allow timely decisionsregarding required disclosure.

 

**Evaluationof Disclosure Controls and Procedures**

 

The Registrant conducted anevaluation (under the supervision and with the participation of the Registrant’smanagement, including the Chief Executive Officer and Chief Financial Officeras of December 31, 2008), pursuant to Rule 13a-15 promulgated underthe Securities Exchange Act of 1934, as amended (the “Exchange Act”) and underNational Instrument 52-109 adopted by the Canadian Securities regulatoryauthorities, of the effectiveness of the design and operation of the Registrant’sdisclosure controls and procedures. Based on this evaluation, the Registrant’sChief Executive Officer and Chief Financial Officer concluded that suchdisclosure controls and procedures were effective as of December 31, 2008.

 

It should be noted thatwhile the Registrant’s Chief Executive Officer and Chief Financial Officerbelieve that the Registrant’s disclosure controls and procedures provide areasonable level of assurance that they are effective, they do not expectthat the Registrant’s disclosure controls and procedures or internal controlover financial reporting will prevent all errors and fraud. A control system,no matter how well conceived or operated, can provide only reasonable, notabsolute, assurance that the objectives of the control system are met.

 

**Management’sReport on Internal Control over Financial Reporting**

 

Therequired disclosure is included in the “Management’s Report” that accompaniesthe Registrant’s Consolidated Financial Statements for the fiscal year ended December 31,2008, filed as Exhibit 13.2 to this Annual Report on Form 40-F.

 

**Changes inInternal Controls over Financial Reporting**

 

Duringthe third quarter of 2008, the Registrant made a change in the consolidationsoftware supporting financial reporting from its financial systems. Asappropriate, the Registrant is modifying the design, documentation andevaluation of internal control processes and procedures relating to the newsystem, to supplement and complement existing internal controls over financialreporting.

 

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**Code of Ethics**

 

The Company has adopted a Code of Ethics thatapplies to all directors, officers and employees, including the Company’sprincipal executive officer, principal financial officer, principal accountingofficer or controller, or persons performing similar functions. For adiscussion of the Company’s Code of Ethics, see page 12 of Cascades’Annual Information Form for the year ended December 31, 2008 (“AIF”)attached hereto as Exhibit 13.1. There were neither amendments to nor waivers, including implicitwaivers, from any provision of the Code of Ethics during the fiscal year ended December 31,2008 that applied to the Company’s principal executive officer, principalfinancial officer, principal accounting officer or controller, or personsperforming similar functions.  The Codeof Ethics is available on the Company’s website at *www.cascades.com*.

 

**Audit Committee**

 

The Registrant has a separately designated standingaudit committee (the “Audit Committee”) established in accordance with Section 3(a)(58)(A) ofthe Exchange Act.  The Audit Committee iscomposed entirely of directors who are “independent”, as such term is definedin the listing standards of the New York Stock Exchange.  All members of the Audit Committee arefinancially literate and there are three “audit committee financial experts”.  In considering criteria for the determinationof financial literacy, the Board of Directors considers the ability to read andunderstand a set of financial statements that present a breadth and level ofcomplexity of accounting issues that are generally comparable to the breadthand complexity of the issues that can reasonably be expected to be raised bythe Registrant’s financial statements. In determining whether Audit Committee members are “audit committeefinancial experts”, the Board of Directors and the Audit Committee haveconsidered the attributes described by the SEC. The “audit committee financial experts” are André Desaulniers, RobertChevrier and James B.C. Doak.  The othermember of the Audit Committee is Laurent Verreault.

 

**Principal Accountant Fees and Services**

 

The aggregate fees for professional servicesrendered by PricewaterhouseCoopers LLP. for the Company for the 2008 and 2007 fiscalyears are shown in the table below:

 
| **Fees in Canadian dollars** | ** ** | **Year ended  December 31, 2008** | ** ** | **Year ended  December 31, 2007** | ** ** |
|---------------------------------------------|------------|--------------------------------------------------|------------|--------------------------------------------------|------------|
| Audit Fees                                  |       | $                                                | 2,046,684  |                                             | $          | 1,990,418 |   |
| Audit-Related  Fees                         |       | $                                                | 379,539    |                                             | $          | 793,364 |   |
| Tax Fees                                    |       | $                                                | 734,173    |                                             | $          | 501,114 |   |
| All Other Fees                              |       | N/A                                              |       | N/A                                              |       |
| Total                                       |       | $                                                | 3,160,396  |                                             | $          | 3,284,896 |   |

 

The nature of each category of fees is described below:

 

Audit Fees: Includes services provided by theindependent auditor in connection with statutory and regulatory filings andaudit of the annual financial statements of the Company.

 

Audit Related Fees: Includes services provided bythe independent auditor in connection with consultations on accounting andregulatory matters.

 

Tax Fees: Includes services rendered by theindependent auditor mainly for tax compliance.

 

All Other Fees: Not applicable.

 

**Audit and Non-Audit Services PreApproval Policy**

 

The Company’s Audit Committee has adopted aPre-approval Policy and Procedures for services provided by the Company’sindependent auditors, PricewaterhouseCoopers LLP. which sets forth theprocedures and the conditions pursuant to which permissible services proposedto be performed by external auditors are pre-approved.  Under the terms of the policy, services thatinvolve annual fees of less than $35,000 are pre-approved. The Audit Committeehas delegated to the Chairman of the Audit Committee pre-approval authority forany services not previously approved by 

 

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the Audit Committee that involve the payment ofunbudgeted fees in excess of $35,000 up to a maximum of $50,000.  Services that involve fees of more than$50,000 require pre-approval of all the members of the Audit Committee.

 

**Percentage of Services Approved by the AuditCommittee**

 

For the year ended December 31, 2008, theservices described above requiring pre-approval were approved by the AuditCommittee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 ofRegulation S-X.

 

**Off-Balance Sheet Arrangements**

 

For a discussion of off-balance sheet arrangements,see the section entitled “Off-Balance Sheet Arrangements” on page 47 ofCascades’ Management’s Discussion and Analysis attached hereto as Exhibit 13.3.

 

**Tabular Disclosure ofContractual Obligations**

 

For a tabular disclosure and discussion ofcontractual obligations, see the section entitled “Contractual Obligations andother commitments” on page 47 of Cascades’ Management’s Discussion andAnalysis attached hereto as Exhibit 13.3.

 

**Forward-Looking Statements**

 

Certain statements in this annualreport on Form 40-F or in documents incorporated by reference herein areforward-looking statements (as such term is defined under the United StatesPrivate Securities Litigation Reform Act of 1995) based on currentexpectations. The accuracy of such statements is subject to a number of risks,uncertainties and assumptions that may cause actual results to differmaterially from those projected, including, but not limited to, the effect ofgeneral economic conditions, decreases in demand for the Company’s products, theprices and availability of raw materials, changes in the relative values ofcertain currencies, fluctuations in selling prices and adverse changes ingeneral market and industry conditions. Reference is made to the section entitled “Business Risks” on page 12of the AIF and to the section entitled “Riskmanagement” on page 50 in Cascades’ Management’s Discussion and Analysis”(which is incorporated by reference in the AIF) and attached hereto as Exhibit 13.3.

 

Consequently, all of the forward-looking statementsmade herein are qualified by these cautionary statements and there can be noassurance that the actual results on developments anticipated by the Companywill be realized.  The Company undertakesno obligation to update or revise any forward-looking statements.

 

# **Website Information**

# ** **

Notwithstanding any reference to the Registrant’swebsite on the internet in the AIF or in the documents attached as Exhibitshereto, the information contained in the Registrant’s website or any other websiteon the internet referred to in the Registrant’s website is not a part of this Form 40-Fand, therefore, is not filed with the SEC.

 

# **Undertaking**

# ** **

The Registrant undertakes tomake available, in person or by telephone, representatives to respond to inquiriesmade by the Commission staff , and to furnish promptly, when requested to do soby the Commission staff, information relating to: the securities registeredpursuant to Form 40-F; the securities in relation to which the obligationto file an annual report on Form 40-F arises; or transactions in saidsecurities.

 

**Consent to Service of Process**

 

The Registrant has previously filed with the Commissiona written consent to service of process and power of attorney on Form F-X/A.  Any change to the name or address of theRegistrant’s agent for service shall be communicated promptly to the Commissionby amendment to the Form F-X referencing the file number of theRegistrant.

 

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**SIGNATURES**

 

Pursuant to the requirements of the Exchange Act,the Registrant certifies that it meets all of the requirements for filing on Form 40-Fand has duly caused this annual report to be signed on its behalf by theundersigned, thereto duly authorized.

 

 

CASCADES INC.

 

 
| By :    | /s/                                         | *Christian Dubé* |   |
|---------|---------------------------------------------|-----------------------|--------|
| Name :  | Christian  Dubé                        |                  |
| Title : | Vice President and Chief  Financial Officer |                  |
| Date :  | March 30, 2009                         |                  |

 

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**EXHIBIT INDEX**

** **
| **Exhibit   Number** | ** ** | **Description  of Exhibit (and document from   which incorporated by reference, if applicable)**                                                                                                                                                                                      | ** ** | **Note**   |
|---------------------------|------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------|------------|
| ** **                | ** ** | ** **                                                                                                                                                                                                                                                                                 | ** ** | ** ** |
| 3.1                       |       | Articles of Amalgamation of Cascades Inc. filed with the Inspector  general of financial institutions of Quebec on January 10, 2004                                                                                                                                                   |       | (C)        |
|                      |       |                                                                                                                                                                                                                                                                                       |       |       |
| 3.2                       |       | By-laws of Cascades Inc., as amended                                                                                                                                                                                                                                                       |       | (G)        |
|                      |       |                                                                                                                                                                                                                                                                                       |       |       |
| 4.1                       |       | Indenture, dated as of February 5, 2003, among Cascades Inc.,  the Subsidiary Guarantors named therein and The Bank of New York, as Trustee                                                                                                                                           |       | (A)        |
|                      |       |                                                                                                                                                                                                                                                                                       |       |       |
| 4.2                       |       | First Supplemental Indenture, dated May 30, 2003, to the  Indenture, dated February 5, 2003, among Cascades Inc., the Existing  Subsidiary Guarantors named therein, the New Subsidiary Guarantors named  therein and The Bank of New York, as Trustee                           |       | (B)        |
|                      |       |                                                                                                                                                                                                                                                                                       |       |       |
| 4.3                       |       | Second Supplemental Indenture, dated December 30, 2003, to the  Indenture, dated February 5, 2003, among Cascades Inc., the Existing  Subsidiary Guarantors named therein, the New Subsidiary Guarantors named  therein and The Bank of New York, as Trustee                     |       | (C)        |
|                      |       |                                                                                                                                                                                                                                                                                       |       |       |
| 4.4                       |       | Third Supplemental Indenture, dated March 16, 2004, to the  Indenture, dated February 5, 2003, among Cascades Inc., the Existing  Subsidiary Guarantors named therein, the New Subsidiary Guarantor named  therein and The Bank of New York, as Trustee                          |       | (C)        |
|                      |       |                                                                                                                                                                                                                                                                                       |       |       |
| 4.5                       |       | Fourth Supplemental Indenture, dated July 8, 2004, to the  Indenture, dated February 5, 2003, among Cascades Inc., the Existing  Subsidiary Guarantors named therein, the New Subsidiary Guarantor named  therein and The Bank of New York, as Trustee                           |       | (C)        |
|                      |       |                                                                                                                                                                                                                                                                                       |       |       |
| 4.6                       |       | Fifth Supplemental Indenture, dated August 26, 2004, to the  Indenture, dated February 5, 2003, among Cascades Inc., the Existing  Subsidiary Guarantors named therein, the New Subsidiary Guarantors named  therein and The Bank of New York, as Trustee                        |       | (C)        |
|                      |       |                                                                                                                                                                                                                                                                                       |       |       |
| 4.7                       |       | Sixth Supplemental Indenture, dated November 30, 2004, to the  Indenture, dated February 5, 2003, among Cascades Inc., the Existing  Subsidiary Guarantors named therein, the New Subsidiary Guarantors named  therein and The Bank of New York Trustee                          |       | (C)        |
|                      |       |                                                                                                                                                                                                                                                                                       |       |       |
| 4.8                       |       | Seventh Supplemental Indenture, dated April 27, 2006, to the Indenture,  dated February 5, 2003, among Cascades Inc., the Existing Subsidiary  Guarantors named therein, the New Subsidiary Guarantor named therein and The  Bank of New York, as Trustee                        |       | (E)        |
|                      |       |                                                                                                                                                                                                                                                                                       |       |       |
| 4.9                       |       | Eighth Supplemental Indenture, dated September 20, 2006, to the  Indenture, dated February 5, 2003, among Cascades Inc., the Existing  Subsidiary Guarantors named therein, the New Subsidiary Guarantor named  therein and The Bank of New York, as Trustee                     |       | (E)        |
|                      |       |                                                                                                                                                                                                                                                                                       |       |       |
| 4.10                      |       | Ninth Supplemental Indenture, dated November 8, 2006, to the  Indenture, dated February 5, 2003, among Cascades Inc., the Existing  Subsidiary Guarantors named therein, the New Subsidiary Guarantor named  therein and The Bank of New York, as Trustee                        |       | (E)        |
|                      |       |                                                                                                                                                                                                                                                                                       |       |       |
| 4.11                      |       | Tenth Supplemental Indenture, dated December 28, 2006, to the  Indenture, dated February 5, 2003, among Cascades Inc., the Existing  Subsidiary Guarantors named therein, the New Subsidiary Guarantors named  therein and The Bank of New York, as Trustee                      |       | (E)        |
|                      |       |                                                                                                                                                                                                                                                                                       |       |       |
| 4.12                      |       | Eleventh Supplemental Indenture, dated August 17, 2007, to the  Indenture, dated February 5,2003, among Cascades Inc., the Existing  Subsidiary Guarantors named therein, the New Subsidiary Guarantors named  therein and The Bank of New York, as Trustee                      |       | (F)        |
|                      |       |                                                                                                                                                                                                                                                                                       |       |       |
| 4.13                      |       | Indenture, dated May 28, 2003, among Norampac Inc., the  Subsidiary Guarantors named therein and The Bank of Nova Scotia Trust Company  of New York, as Trustee                                                                                                                       |       | (E)        |
|                      |       |                                                                                                                                                                                                                                                                                       |       |       |
| 4.14                      |       | First Supplemental Indenture, dated July 30, 2004, to the  Indenture, dated May 28, 2003, among Norampac Inc., the Existing  Subsidiary Guarantors named therein, the New Subsidiary Guarantors named  therein and The Bank of Nova Scotia Trust Company of New York, as Trustee |       | (E)        |

 

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| 4.15   |   | Second Supplemental Indenture, dated December 28, 2006, to the  Indenture, dated May 28, 2003, among Norampac Inc., the Existing  Subsidiary Guarantors named therein, the New Subsidiary Guarantors named  therein and The Bank of Nova Scotia Trust Company of New York, as Trustee                                                                                                                        |   | (E)    |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |
| 4.16   |   | Third Supplemental Indenture, dated as of December 29, 2006, to  the Indenture dated as of May 28, 2003 among Norampac Inc. as  predecessor issuer, the Subsidiary Guarantors named therein and The Bank of  Nova Scotia Trust Company of New York, as Trustee, among Cascades Inc., the  Subsidiary Guarantors named therein and The Bank of New York, as Trustee                                           |   | (E)    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |
| 4.17   |   | Fourth Supplemental Indenture, dated as of August 30, 2007, to  the Indenture dated as of May 28, 2003 among Norampac Inc. as  predecessor issuer, the Subsidiary Guarantors named therein and The Bank of  Nova Scotia Trust Company of New York, as Trustee, among Cascades Inc., the  Subsidiary Guarantors named therein and The Bank of New York, as Trustee                                            |   | (F)    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |
| 10.1   |   | Asset Purchase Agreement, dated November 16,  2005, among Cascades Fine Papers Group Inc., Cascades Inc. and Coast Paper  Limited (now known as Spicers, a division of PaperlinX Canada Limited)                                                                                                                                                                                                                  |   | (D)    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |
| 10.2   |   | Credit Agreement, dated as of December 29,  2006, among Cascades Inc., Cascades USA Inc., Cascades Europe SAS, Cascades  Arnsberg GmbH, The Bank of Nova Scotia, as administrative and collateral  agent, National Bank of Canada, as co-administrative agent, Canadian Imperial  Bank of Commerce, and a syndicate of lenders named therein, as lenders                                                          |   | (E)    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |
| 10.3   |   | First Amendment dated as of June 27, 2007, to  the Credit Agreement dated as of December 29, 2006, among Cascades Inc.,  Cascades USA Inc., Cascades Europe SAS, Cascades Arnsberg GmbH, The Bank of  Nova Scotia, as administrative and collateral agent, National Bank of Canada,  as co-administrative agent, Canadian Imperial Bank of Commerce, and a  syndicate of lenders named therein, as lenders   |   | (F)    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |
| 10.4   |   | Second Amendment dated as of March 27, 2008,  to the Credit Agreement dated as of December 29, 2006, among Cascades  Inc., Cascades USA Inc., Cascades Europe SAS, Cascades Arnsberg GmbH, The  Bank of Nova Scotia, as administrative and collateral agent, National Bank of  Canada, as co-administrative agent, Canadian Imperial Bank of Commerce, and a  syndicate of lenders named therein, as lenders |   | (G)    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |
| 10.5   |   | Third Amendment dated as of May 22, 2008, to  the Credit Agreement dated as of December 29, 2006, among Cascades Inc.,  Cascades USA Inc., Cascades Europe SAS, The Bank of Nova Scotia, as  administrative and collateral agent, National Bank of Canada, as  co-administrative agent, Canadian Imperial Bank of Commerce, and a syndicate  of lenders named therein, as lenders                            |   | (G)    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |
| 10.6   |   | Fourth Amendment dated as of February 13,  2009, to the Credit Agreement dated as of December 29, 2006, among  Cascades Inc., Cascades USA Inc., Cascades Europe SAS, The Bank of Nova  Scotia, as administrative and collateral agent, National Bank of Canada, as  co-administrative agent, Canadian Imperial Bank of Commerce, and a syndicate  of lenders named therein, as lenders                      |   | (G)    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |
| 10.7   |   | Share Purchase Agreement, dated December 28,  2006, among Cascades Inc. and Domtar Inc.                                                                                                                                                                                                                                                                                                                           |   | (E)    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |
| 10.8   |   | Cost Sharing Agreement, dated December 28,  2006, among Cascades Inc. and Domtar Inc.                                                                                                                                                                                                                                                                                                                             |   | (E)    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |
| 13.1   |   | Annual Information Form for the year ended December 31,  2008                                                                                                                                                                                                                                                                                                                                                |   | (G)    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |
| 13.2   |   | Audited Consolidated Financial Statements for the  year ended December 31, 2008 together with Management’s Report and the Auditors’  Report                                                                                                                                                                                                                                                             |   | (G)    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |
| 13.3   |   | Management’s Discussion and Analysis for the year  ended December 31, 2008                                                                                                                                                                                                                                                                                                                                   |   | (G)    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |
| 23.1   |   | Independent Auditors’ Consent                                                                                                                                                                                                                                                                                                                                                                                     |   | (G)    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |
| 31.1   |   | CEO Section 302 Certification                                                                                                                                                                                                                                                                                                                                                                                     |   | (G)    |

 

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| 31.2   |   | CFO Section 302 Certification         |   | (G)    |
|--------|--------|--------------------------------------------|--------|--------|
|   |   |                                       |   |   |
| 32.1   |   | CEO and CFO Section 906 Certification |   | (G)    |

 

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(A)            Previously filed as an exhibit to Cascades Inc.’sRegistration Statement on Forms F-4 and S-4 (Reg. No. 333-105024), filedon May 6, 2003 and incorporated herein by reference.

 

(B)              Previously filed as an exhibit to Amendment No. 1 toCascades Inc.’s Registration Statement on Forms F-4 and S-4 (Reg. No. 333-105024),filed on July 18, 2003 and incorporated herein by reference.

 

(C)              Previously filed as an exhibit to Cascades Inc.’s AnnualReport on Form 40-F, filed on March 24, 2005 and incorporated hereinby reference.

 

(D)             Previously filed as an exhibit to Cascades Inc.’s AnnualReport on Form 40-F, filed on March 26, 2006 and incorporated hereinby reference.

 

(E)               Previously filed as an exhibit to Cascades Inc.’s AnnualReport on Form 40-F, filed on March 27, 2007 and incorporated hereinby reference.

 

(F)               Previously filed as an exhibit to Cascades Inc.’s AnnualReport on Form 40-F, filed on March 27, 2008 and incorporated hereinby reference.

 

(G)              Filed herewith.

 

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