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FORTRESS PAPER OVERVIEW

Fortress is an international producer of specialty pulp, security papers and other security related products. Fortress paper was incorporated in May 2006 and listed on the Toronto Stock exchange in July 2007. The company has since grown to two divisions and employs approximately 640 workers in two countries.

Fortress operates in two distinct business segments: dissolving pulp and security paper products.

The Company operates its dissolving pulp business at the Fortress Specialty Cellulose Mill located in Canada, where it has recently commenced production of dissolving pulp primarily for viscose/rayon manufacturers in Asia after successfully completing the conversion of the mill from a NBHK pulp to a dissolving pulp operation. The Fortress Specialty Cellulose Mill also recently enterered the renewable energy generation sector with the construction of a co-generation facility.

The Company operates its security paper products business at the Landqart Mill located in Switzerland, where it produces banknote, passport, visa and other brand protection and security papers.

On April 30, 2013 Fortress announced that it had 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 €160 million (approximately CDN$212 million), subject to a post‑closing working capital adjustment. With the sale of the Dresden Mill, Fortress Paper no longer operates in the specialty papers (wallpaper base) industry.


 

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