**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**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, 2007** | ** ** | **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  J0A 1B0**

**(819) 363-5100**                                                                               |
| (Address and telephone number of Registrant’s  principal executive offices)                                                                                               |
|                                                                                                                                                                           |
| **Cascades  USA Inc.**

**148 Hudson River Road**

**Waterford, NY 12188**

**(518) 238-1900**                                                                                 |
| (Name, address (including zip code) and  telephone number (including area code)   of agent for service in the United States)                                                   |
|                                                                                                                                                                           |
| Securities registered or to be registered pursuant to Section 12(b) of  the Act:                                                                                     |
|                                                                                                                                                                           |
| **Not Applicable.**                                                                                                                                                            |
|                                                                                                                                                                           |
| Securities  registered or to be registered pursuant to Section 12(g) of the  Act:                                                                                    |
|                                                                                                                                                                           |
| **Not Applicable.**                                                                                                                                                            |
|                                                                                                                                                                           |
| Securities  for which there is a reporting obligation pursuant to Section 15(d) of  the Act:

**71⁄4% Senior Notes due 2013**

**63⁄4% Senior Notes due 2013** |

 

| For  annual reports, indicate by check mark the information filed with this Form:                                                                                                                                                                                                                                                                                                                    |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                 |
| x                                                                                                                                                                                                                                                                                                                                                                                                    | Annual information form | x | Audited annual financial statements |
|                                                                                                                                                                                                                                                                                                                                                                                                 |
| Indicate  the number of outstanding shares of each of the issuer’s classes of capital  or common stock as of the close of the period covered by the annual report:                                                                                                                                                                                                                              |
|                                                                                                                                                                                                                                                                                                                                                                                                 |
| ****99,144,351******** ******shares of common stock  outstanding as of December 31, 2007**                                                                                                                                                                                                                                                                                                 |
|                                                                                                                                                                                                                                                                                                                                                                                                 |
| Indicate  by check mark whether the Registrant by filing the information contained in  this Form is also thereby furnishing the information to the Commission  pursuant to Rule 12g3-2(b) under the 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 whether the Registrant (1) has filed all reports required  to be filed by Section 13 or 15(d) of the Exchange Act during the  preceding 12 months (or for such shorter period that the Registrant was  required to file such reports) and (2) has been subject to such filing  requirements for the past 90 days.                                        |
|                                                                                                                                                                                                                                                                                                                                                                                                 |
| Yes                                                                                                                                                                                                                                                                                                                                                                                                  |   x | No |   o |
|                                                                                                                                                                                                                                                                                                                                                                                                      |  |  |  |  |  |  |  |

 

 

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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 42 to 93, respectively of Cascades’ 2007 Annual Report attachedhereto as Exhibit 13.2.

 

#### **Management’sDiscussion and Analysis of Financial Position and Results of Operation**

#### ** **

For management’s discussion and analysis of financial position andresults of operations, see pages 1 to 40 of Cascades’ 2007 Annual Report attached hereto as Exhibit 13.3.

 

## **Controls and Procedures**

## ** **

Inpreparing Note 24 – to the Registrant’s 2007 audited financial statements, andin performing the review of that note, the Registrant identified errors asdisclosed in the said note to the Consolidated Financial Statements.

 

In performing its assessment of theeffectiveness of the designand efficiency and operationof its disclosure controls and procedures, the Registrantdetermined that it had a significant deficiency in the performance of the stepsrequired in preparing the US GAAP reconciliation note and disclosed same to theAudit Committee of the Board of Directors. However, while the impact of the errors affected comprehensive income, these errorshad no effect on operating income, net earnings, net earnings per share, or onthe cash flow statement.  Furthermorethese errors had no impact on liquidity measures, and they present no cash floweffect. These identified errors were corrected in Note 24 to the Registrant’sAnnual Audited Consolidated Financial Statements.

 

The Registrant iscommitted to improving its internal control over financial reporting. As such,the Registrant is implementing additional US GAAP training for key accounting personnel and plans to furthersolicit external assistance in the application of US GAAP to unusual,infrequent and complex transactions.

 

**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, 2007), pursuant to Rule 13a-15 promulgated underthe Securities Exchange Act of 1934, as amended (the “Exchange Act”) of theeffectiveness of the design and operation of the Registrant’s disclosurecontrols and procedures. Based on this evaluation, the Registrant’s ChiefExecutive Officer and Chief Financial Officer concluded that such disclosurecontrols and procedures are effective to ensure that information required to bedisclosed by the registrant in reports it files or submits under the ExchangeAct is recorded, processed, summarized and reported within the time periodsspecified in the rules and forms of the Securities and Exchange Commission(“SEC”). It should be noted that while the Registrant’s Chief Executive Officerand Chief Financial Officer believe that the Registrant’s disclosure controlsand procedures provide a reasonable level of assurance that they are effective,they do not expect that the Registrant’s disclosurecontrols and procedures or internal control over financial reporting willprevent all errors and fraud. A control system, no matter how well conceived oroperated, can provide only reasonable, not absolute, assurance that theobjectives 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 31,2007, filed as Exhibit 13.2 to this Annual Report on Form 40-F.

 

2

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**Changes inInternal Controls over Financial Reporting**

 

There was no change in theRegistrant’s internal control over financial reporting that occurred during theperiod covered by this report that has materially affected, or is reasonablylikely to materially affect, its internal control over financial reporting.

 

Subsequent to December 31,2007, management has continued to review, revise and improve the effectivenessof the Registrant’s internal control over financial reporting. Management, withoversight from the Audit Committee, has addressed the significant deficiencydescribed above.

 

**Codeof Ethics**

 

The Company has adopted a Code of Ethics that applies to all directors,officers and employees, including the Company’s principal executive officer,principal financial officer, principal accounting officer or controller, orpersons performing similar functions. For a discussion of the Company’s Code ofEthics, see page 13 of Cascades’ Annual Information Form for the yearended December 31, 2007 (“AIF”) attached hereto as Exhibit 13.1.  There were neither amendments to nor waivers,including implicit waivers, from any provision of the Code of Ethics during thefiscal year ended December 31, 2007 that applied to the Company’sprincipal executive officer, principal financial officer, principal accountingofficer or controller, or persons performing similar functions.  The Code of Ethics is available on theCompany’s website at www.cascades.com.

 

**AuditCommittee**

 

The Registrant has a separately designated standing audit 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.

 

**PrincipalAccountant Fees and Services**

 

The aggregate fees for professional services rendered byPricewaterhouseCoopers LLP. for the Company for the 2007 and 2006 fiscal yearsare shown in the table below:

 
| **Fees in Canadian dollars** | ** ** | **Year ended  December 31, 2007** | ** ** | **Year ended  December 31, 2006** | ** ** |
|---------------------------------------------|------------|--------------------------------------------------|------------|--------------------------------------------------|------------|
| Audit Fees                                  |       | $                                                | 1,990,418  |                                             | $          | 1,527,933 |   |
| Audit-Related  Fees                         |       | $                                                | 793,364    |                                             | $          | 295,392 |   |
| Tax Fees                                    |       | $                                                | 501,114    |                                             | $          | 313,146 |   |
| All Other Fees                              |       | N/A                                              |       | N/A                                              |       |
| Total                                       |       | $                                                | 3,284,896  |                                             | $          | 2,136,471 |   |

 

The nature of each category of fees is described below:

 

Audit Fees: Includes services provided by the independent auditor inconnection with statutory and regulatory filings and audit of the annualfinancial statements of the Company.

 

Audit Related Fees: Includes services provided by the independentauditor in connection with consultations on accounting and regulatory matters.

 

3

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Tax Fees: Includes services rendered by the independent auditor mainlyfor tax compliance.

 

All Other Fees: Not applicable.

 

**Auditand Non-Audit Services PreApproval Policy**

 

The Company’s Audit Committee has adopted a Pre-approval Policy andProcedures for services provided by the Company’s independent auditors,PricewaterhouseCoopers LLP. which sets forth the procedures and the conditionspursuant to which permissible services proposed to be performed by externalauditors are pre-approved.  Under theterms of the policy, services that involve annual fees of less than $35,000 arepre-approved. The Audit Committee has delegated to the Chairman of the AuditCommittee pre-approval authority for any services not previously approved bythe Audit Committee that involve the payment of unbudgeted 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 ofall the members of the Audit Committee.

 

**Percentageof Services Approved by the Audit Committee**

 

For the year ended December 31, 2007, the services described aboverequiring pre-approval were approved by the Audit Committee pursuant toparagraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

 

**Off-BalanceSheet Arrangements**

 

For a discussion of off-balance sheet arrangements, see the sectionentitled “Off-Balance Sheet Arrangements” on page 33 of Cascades’ Management’sDiscussion and Analysis of Financial Position and Operating Results attachedhereto as Exhibit 13.3.

 

**TabularDisclosure of Contractual Obligations**

 

For a tabular disclosure and discussion of contractual obligations, seethe section entitled “Contractual Obligations and other commitments” on page 33of Cascades’ Management Discussion and Analysis of Financial Position andOperating attached hereto as Exhibit 13.3.

 

**Forward-LookingStatements**

 

Certain statements in this annual report on Form 40-For in documents incorporated by reference herein are forward-looking statements(as such term is defined under the United States Private Securities LitigationReform Act of 1995) based on current expectations. The accuracy of suchstatements is subject to a number of risks, uncertainties and assumptions thatmay cause actual results to differ materially from those projected, including,but not limited to, the effect of general economic conditions, decreases indemand for the Company’s products, increases in raw material costs, changes inthe relative values of certain currencies, fluctuations in selling prices andadverse changes in general market and industry conditions.  Reference is made to the section entitled “BusinessRisks” on page 13of the AIF and to the section entitled “Risk management” on page 37in Cascades’ Management’s Discussion and Analysis of Financial Position andOperating Results” (which is incorporated by reference in the AIF) and attachedhereto as Exhibit 13.3.

 

Consequently, all of the forward-looking statements made herein arequalified by these cautionary statements and there can be no assurance that theactual results on developments anticipated by the Company will berealized.  The Company undertakes noobligation 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 otherwebsite on the internet referred to in the Registrant’s website is not a partof this Form 40-F and, therefore, is not filed with the SEC.

 

4

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# **Undertaking**

 

The Registrant undertakes tomake available, in person or by telephone, representatives to respond toinquiries made by the Commission staff , and to furnish promptly, whenrequested to do so by the Commission staff, information relating to: thesecurities registered pursuant to Form 40-F; the securities in relation towhich the obligation to file an annual report on Form 40-F arises; ortransactions in said securities.

 

**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 the Registrant’s agent for service shallbe communicated promptly to the Commission by amendment to the Form F-X referencingthe file number of the Registrant.

 

5

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**SIGNATURES**

 

Pursuant to the requirements of the Exchange Act, the Registrantcertifies 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 the undersigned,thereto duly authorized.

 

 

CASCADES INC.

 

 
| By :    | /s/ Christian Dubé                    |   |
|---------|--------------------------------------------|--------|
| Name :  | Christian Dubé                        |
| Title : | Vice President and Chief Financial Officer |
| Date :  | March 27, 2008                        |
|         |                                            |        |  |

 

6

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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                                                                                                                                                                                                                                                       |       | (B)      |
|                |       |                                                                                                                                                                                                                                                                                       |       |     |
| 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)      |

 

7

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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   |   | Share Purchase Agreement, dated December 28, 2006, among  Cascades Inc. and Domtar Inc.                                                                                                                                                                                                                                                                                                                         |   | (E)    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |
| 10.5   |   | 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,  2007                                                                                                                                                                                                                                                                                                                                              |   | (F)    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |
| 13.2   |   | Audited Consolidated Financial Statements for the year ended  December 31, 2007 together with Management’s Report, the Auditors’  Report and the Comments by Auditors for U.S. Readers on Canada-U.S. Reporting  Differences                                                                                                                                                                          |   | (F)    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |
| 13.3   |   | Management’s Discussion and Analysis for the year ended  December 31, 2007                                                                                                                                                                                                                                                                                                                                 |   | (F)    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |
| 23.1   |   | Independent Auditors’ Consent                                                                                                                                                                                                                                                                                                                                                                                   |   | (F)    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |
| 31.1   |   | CEO Section 302 Certification                                                                                                                                                                                                                                                                                                                                                                                   |   | (F)    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |
| 31.2   |   | CFO Section 302 Certification                                                                                                                                                                                                                                                                                                                                                                                   |   | (F)    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   |
| 32.1   |   | CEO and CFO Section 906 Certification                                                                                                                                                                                                                                                                                                                                                                           |   | (F)    |

 

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| (A)    |   | Previously filed as an exhibit to Cascades Inc.’s  Registration Statement on Forms F-4 and S-4 (Reg. No. 333-105024), filed  on May 6, 2003 and incorporated herein by reference.                            |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                        |
| (B)    |   | Previously filed as an exhibit to Amendment  No. 1 to Cascades 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  Annual Report on Form 40-F, filed on March 24, 2005 and  incorporated herein by reference.                                                                |
|   |   |                                                                                                                                                                                                                        |
| (D)    |   | Previously filed as an exhibit to Cascades Inc.’s  Annual Report on Form 40-F, filed on March 26, 2006 and  incorporated herein by reference.                                                                |
|   |   |                                                                                                                                                                                                                        |
| (E)    |   | Previously filed as an exhibit to Cascades Inc.’s  Annual Report on Form 40-F, filed on March 27, 2007 and  incorporated herein by reference.                                                                |
|   |   |                                                                                                                                                                                                                        |
| (F)    |   | Filed herewith.                                                                                                                                                                                                             |

 

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