DGAP-News: NBHK Pulp Production Begins at Fortress Paper's Thurso Mill
(firmenpresse) - Fortress Paper Ltd. / Miscellaneous
01.06.2010 18:37
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June 1, 2010
NBHK Pulp Production Begins at Fortress Paper's Thurso Mill
VANCOUVER, BRITISH COLUMBIA
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.
Fortress Paper Ltd. ('Fortress Paper' or the 'Corporation') (TSX:FTP)
announces that its wholly-owned subsidiary, Fortress Specialty Cellulose
Inc. ('Fortress Specialty'), commenced production and sale of NBHK pulp on
May 28th. The mill reopened May 1st after being shut down by the former
owner in early 2009.
Chad Wasilenkoff, CEO of Fortress Paper Ltd. commented: 'The commencement
of production at the Fortress Specialty Cellulose Mill marks the
achievement of an important milestone at Thurso. We are pleased that
production has commenced ahead of schedule and this will enable us to take
advantage of the current strong NBHK pulp prices.'
Fortress Specialty's Thurso Mill is expected to produce approximately
250,000 air dried metric tonnes per annum of high grade northern bleached
hardwood kraft pulp. Fortress Specialty intends to produce NBHK pulp while
undergoing transformation to become a dissolving pulp producer in mid 2011.
About Fortress Paper
Fortress Paper is a leading international producer of security and other
specialty papers and products. Fortress Paper operates three mills, the
Landqart Mill located in Switzerland, the Dresden Mill located in Germany
and the Fortress Specialty Cellulose Mill located in Quebec, Canada.
Fortress Paper's security papers include banknote, passport and visa papers
and its specialty papers include non-woven wallpaper base products, and
graphic and technical papers. Fortress Paper's pulp business will include
NBHK with the re-start of the Fortress Specialty Cellulose Mill with plans
to convert this capacity into dissolving pulp production along with the
construction of a biomass based cogeneration plant.
This news release contains certain forward-looking statements that reflect
the current views and/or expectations of Fortress Paper with respect to its
performance, business and future events, including statements relating to
its plans to re-start, convert and build a biomass based cogeneration plant
at the Fortress Specialty Cellulose Mill. Forward-looking statements are
based on the then-current expectations, beliefs, assumptions, estimates and
forecasts about the business and the industry and markets in which the
Corporation operates, including assumptions relating to the Corporation's
ability to successfully implement its business plan in respect of the
Fortress Specialty Cellulose Mill; that the Corporation will be able to
receive all required approvals and complete construction of the
cogeneration facility; and the expected effects of the cogeneration
facility on the business of the Corporation. Forward-looking statements are
not guarantees of future performance and involve risks, uncertainties and
assumptions which are difficult to predict. Investors are cautioned that
all forward-looking statements involve risks and uncertainties including,
without limitation, that the Corporation will be unable to implement its
business plan inrespect of the Fortress Specialty Cellulose Mill as
planned or at all; that the Corporation will be unable to receive all
necessary approvals to begin construction of the cogeneration facility; and
those risks relating to changes in the market, potential downturns in
economic conditions, fluctuations in the price and supply of raw materials,
foreign exchange fluctuations, labour relations, regulatory requirements,
reputation, competition, dependence on major customers, and other risk
factors listed from time to time in the Corporation's public filings. These
risks, as well as others, could cause actual results and events to vary
significantly. Accordingly, readers should not place undue reliance on
forward-looking statements and information, which are qualified in their
entirety by this cautionary statement. Fortress Paper does not undertake
any obligations to release publicly any revisions for updating any
voluntary forward-looking statements, except as required by applicable
securities law.
CONTACT INFORMATION:
Fortress Paper Ltd.
Chadwick Wasilenkoff
604-904-2328
info(at)fortresspaper.com
www.fortresspaper.com
01.06.2010 18:37 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Datum: 01.06.2010 - 18:37 Uhr
Sprache: Deutsch
News-ID 21797
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