Fortress Paper Ltd. (FTP.TO) 2.80 $FTP.TO
Fortress Announces Voting Results for the Election of Directors
Marketwire - Wed Jun 18, 1:27AM CDT
Fortress Paper Ltd. ("Fortress Paper" or the "Company"
(TSX: FTP) announces that the following five directors were elected at the annual general and special meeting of shareholders of the Company held on June 13, 2014 (the "Meeting":
Fortress Announces Labour Cost Reduction Plan
Marketwire - Thu Jun 05, 1:48AM CDT
Fortress Paper Ltd. ("Fortress Paper" or the "Company" (TSX: FTP) announces today that it has approved an employee reduction plan that will result in a reduction of approximately 16% of the salaried staff in the Company's dissolving pulp segment, including senior management, middle management and clerical staff. The impact in cost savings is estimated at approximately $2.2 million per annum. These layoffs resulted from a management directive to immediately reduce labour costs as part of a comprehensive cost reduction initiative undertaken in response to the challenging dissolving pulp market.
Fortress Paper Receives Deferral on Investissement Quebec Loan
Marketwire - Mon Mar 31, 7:32AM CDT
Fortress Paper Ltd. ("Fortress Paper" or the "Company" (TSX: FTP) announced today that it has been granted a deferral on its upcoming principal payment under its $102.4 million project financing loan with Investissement Quebec (the "IQ Loan" relating to its Fortress Specialty Cellulose Mill. The Company received, without penalty, a deferral of approximately $4.3 million in principal repayment which was payable in the second quarter of 2014. This principal payment deferral is in addition to the previously disclosed deferral of approximately $5.3 million in principal and interest payments which were payable during the first quarter of 2014 under the IQ Loan. The purpose of these deferrals is to provide the Company with greater financial flexibility and increased working capital.
Fortress Paper Announces Fourth Quarter 2013 Results
Marketwire - Mon Mar 10, 7:35PM CDT
Fortress Paper Ltd. ("Fortress Paper" or the "Company" (TSX: FTP) reported 2013 fourth quarter EBITDA loss of $9.4 million. The Dissolving Pulp Segment generated EBITDA loss of $10.8 million and the Security Paper Products Segment generated EBITDA of $2.7 million. Corporate costs contributed $1.3 million to EBITDA loss.
Fortress Specialty Cellulose Mill Restarts Operation
Marketwire - Tue Mar 04, 2:02AM CST
Fortress Paper Ltd. ("Fortress Paper" or the "Company" (TSX: FTP) announced today that its Fortress Specialty Cellulose Mill (the "FSC Mill" in Thurso, Quebec restarted operations after taking market downtime of 10 weeks. The FSC Mill will be producing initially northern bleached hardwood kraft (NBHK) pulp and expects to ramp-up to normalized production in approximately 15 days. In keeping with the Company's "swing mill" strategy, the FSC Mill will continue to operate by swinging production between both NBHK pulp and dissolving pulp to best respond to changing market conditions, particularly in light of the interim anti-dumping trade duty currently imposed by China's Ministry of Commerce.
Fortress Paper Dissolving Pulp Mill Takes Market Downtime
Marketwire - Tue Dec 17, 4:49PM CST
Fortress Paper Ltd. ("Fortress Paper" or the "Company" (TSX: FTP) announced today that it will be taking market downtime at the Fortress Specialty Mill (the "FSC Mill" in Thurso, Quebec. The recent imposition of an interim duty by China's Ministry of Commerce ("MOFCOM" on the import of Canadian dissolving pulp into China has made it uneconomical for the FSC Mill to continue producing dissolving pulp at this time and the current market pricing for northern bleached hardwood kraft (NBHK) pulp is not sufficient to warrant production. The Company anticipates it will take approximately 10 weeks' market downtime at the FSC Mill commencing December 22, 2013, during which employees at the FSC Mill will be encouraged to take their holidays. This market shutdown will also reduce the scheduled June 2014 maintenance shutdown and allow the Company to manage its dissolving pulp inventory build-up which resulted from the volatility and uncertainty in pricing in the short term dissolving pulp market.
Fortress Paper Provides Update on Fortress Specialty Cellulose Mill
Marketwire - Tue Jul 02, 8:02AM CDT
Fortress Paper Ltd. (TSX: FTP) ("Fortress Paper" or the "Company" wishes to provide an update on its operations at its Fortress Specialty Cellulose Mill (the "FSC Mill" in Thurso, Quebec.
Fortress Paper Announces That Landqart AG Appoints a New Chief Executive Officer for Its Security Paper Products Business
Marketwire - Wed Jun 19, 2:14AM CDT
Fortress Paper Ltd. (TSX: FTP) ("Fortress Paper" or the "Corporation" is pleased to announce the appointment of Axel Wappler as Chief Executive Officer of its security paper products business, effective July 1, 2013.
Fortress Paper Announces Annual General and Special Meeting Voting Results
Marketwire - Fri May 31, 6:39PM CDT
Fortress Paper Ltd. ("Fortress Paper" or the "Corporation" (TSX: FTP) announces that the following five directors were elected at the annual general and special meeting of shareholders of the Corporation held on May 3, 2013 (the "Meeting":
Fortress Paper Completes Sale of the Dresden Mill
Marketwire - Tue Apr 30, 8:04AM CDT
Fortress Paper Ltd. ("Fortress Paper" or the "Company" (TSX: FTP) is pleased to announce that it has successfully completed the sale of the Dresden Mill to Glatfelter Gernsbach GmbH & Co. KG, a subsidiary of P.H. Glatfelter Co., previously announced on March 13, 2013. The purchase price for the sale was EUR160 million (approximately CDN$212 million), subject to a post-closing working capital adjustment.
Glatfelter completes acquisition of Dresden Papier GmbH
M2 - Tue Apr 30, 7:35AM CDT
Glatfelter (NYSE: GLT) announced today that it completed the previously announced acquisition of Dresden Papier GmbH from Fortress Paper Ltd. (TSE: FTP) for EUR160 million (U.S. $210 million) subject to a post-closing working capital adjustment.
Fortress Announces Voting Results for the Election of Directors
Marketwire - Wed Jun 18, 1:27AM CDT
Fortress Paper Ltd. ("Fortress Paper" or the "Company"
(TSX: FTP) announces that the following five directors were elected at the annual general and special meeting of shareholders of the Company held on June 13, 2014 (the "Meeting": Fortress Announces Labour Cost Reduction Plan
Marketwire - Thu Jun 05, 1:48AM CDT
Fortress Paper Ltd. ("Fortress Paper" or the "Company"
(TSX: FTP) announces today that it has approved an employee reduction plan that will result in a reduction of approximately 16% of the salaried staff in the Company's dissolving pulp segment, including senior management, middle management and clerical staff. The impact in cost savings is estimated at approximately $2.2 million per annum. These layoffs resulted from a management directive to immediately reduce labour costs as part of a comprehensive cost reduction initiative undertaken in response to the challenging dissolving pulp market. Fortress Paper Receives Deferral on Investissement Quebec Loan
Marketwire - Mon Mar 31, 7:32AM CDT
Fortress Paper Ltd. ("Fortress Paper" or the "Company"
(TSX: FTP) announced today that it has been granted a deferral on its upcoming principal payment under its $102.4 million project financing loan with Investissement Quebec (the "IQ Loan" relating to its Fortress Specialty Cellulose Mill. The Company received, without penalty, a deferral of approximately $4.3 million in principal repayment which was payable in the second quarter of 2014. This principal payment deferral is in addition to the previously disclosed deferral of approximately $5.3 million in principal and interest payments which were payable during the first quarter of 2014 under the IQ Loan. The purpose of these deferrals is to provide the Company with greater financial flexibility and increased working capital. Fortress Paper Announces Fourth Quarter 2013 Results
Marketwire - Mon Mar 10, 7:35PM CDT
Fortress Paper Ltd. ("Fortress Paper" or the "Company"
(TSX: FTP) reported 2013 fourth quarter EBITDA loss of $9.4 million. The Dissolving Pulp Segment generated EBITDA loss of $10.8 million and the Security Paper Products Segment generated EBITDA of $2.7 million. Corporate costs contributed $1.3 million to EBITDA loss. Fortress Specialty Cellulose Mill Restarts Operation
Marketwire - Tue Mar 04, 2:02AM CST
Fortress Paper Ltd. ("Fortress Paper" or the "Company"
(TSX: FTP) announced today that its Fortress Specialty Cellulose Mill (the "FSC Mill" in Thurso, Quebec restarted operations after taking market downtime of 10 weeks. The FSC Mill will be producing initially northern bleached hardwood kraft (NBHK) pulp and expects to ramp-up to normalized production in approximately 15 days. In keeping with the Company's "swing mill" strategy, the FSC Mill will continue to operate by swinging production between both NBHK pulp and dissolving pulp to best respond to changing market conditions, particularly in light of the interim anti-dumping trade duty currently imposed by China's Ministry of Commerce. Fortress Paper Dissolving Pulp Mill Takes Market Downtime
Marketwire - Tue Dec 17, 4:49PM CST
Fortress Paper Ltd. ("Fortress Paper" or the "Company"
(TSX: FTP) announced today that it will be taking market downtime at the Fortress Specialty Mill (the "FSC Mill" in Thurso, Quebec. The recent imposition of an interim duty by China's Ministry of Commerce ("MOFCOM" on the import of Canadian dissolving pulp into China has made it uneconomical for the FSC Mill to continue producing dissolving pulp at this time and the current market pricing for northern bleached hardwood kraft (NBHK) pulp is not sufficient to warrant production. The Company anticipates it will take approximately 10 weeks' market downtime at the FSC Mill commencing December 22, 2013, during which employees at the FSC Mill will be encouraged to take their holidays. This market shutdown will also reduce the scheduled June 2014 maintenance shutdown and allow the Company to manage its dissolving pulp inventory build-up which resulted from the volatility and uncertainty in pricing in the short term dissolving pulp market. Fortress Paper Provides Update on Fortress Specialty Cellulose Mill
Marketwire - Tue Jul 02, 8:02AM CDT
Fortress Paper Ltd. (TSX: FTP) ("Fortress Paper" or the "Company"
wishes to provide an update on its operations at its Fortress Specialty Cellulose Mill (the "FSC Mill" in Thurso, Quebec. Fortress Paper Announces That Landqart AG Appoints a New Chief Executive Officer for Its Security Paper Products Business
Marketwire - Wed Jun 19, 2:14AM CDT
Fortress Paper Ltd. (TSX: FTP) ("Fortress Paper" or the "Corporation"
is pleased to announce the appointment of Axel Wappler as Chief Executive Officer of its security paper products business, effective July 1, 2013. Fortress Paper Announces Annual General and Special Meeting Voting Results
Marketwire - Fri May 31, 6:39PM CDT
Fortress Paper Ltd. ("Fortress Paper" or the "Corporation"
(TSX: FTP) announces that the following five directors were elected at the annual general and special meeting of shareholders of the Corporation held on May 3, 2013 (the "Meeting": Fortress Paper Completes Sale of the Dresden Mill
Marketwire - Tue Apr 30, 8:04AM CDT
Fortress Paper Ltd. ("Fortress Paper" or the "Company"
(TSX: FTP) is pleased to announce that it has successfully completed the sale of the Dresden Mill to Glatfelter Gernsbach GmbH & Co. KG, a subsidiary of P.H. Glatfelter Co., previously announced on March 13, 2013. The purchase price for the sale was EUR160 million (approximately CDN$212 million), subject to a post-closing working capital adjustment. Glatfelter completes acquisition of Dresden Papier GmbH
M2 - Tue Apr 30, 7:35AM CDT
Glatfelter (NYSE: GLT) announced today that it completed the previously announced acquisition of Dresden Papier GmbH from Fortress Paper Ltd. (TSE: FTP) for EUR160 million (U.S. $210 million) subject to a post-closing working capital adjustment.
