Archive for the ‘Fortress Paper Ltd.’ Category

“Entrepreneurial paper chief explains contrarian investing strategy” in the Globe & Mail’s Small Business Week Interview. (Part 3)

Posted: Thursday, October 20th, 2011

The Globe & Mail three part series called ‘Talking to Entrepreneurs’ featured Chad Wasilenkoff, CEO Fortress Paper. In part three of the Globe and Mail’s Small Business Editor Katherine Scarrow’s feature video interview with Fortress Paper CEO Chad Wasilenkoff, where she called Chad Wasilenkoff, Fortress Paper a “born entrepreneur”.

Fortress Paper CEO Chad Wasilenkoff discusses growing up an entrepreneur, and why he’s always looking for a good deal in part 3 of Talking to Entrepreneurs

To watch part three of ‘Talking to Entrepreneurs’ please click HERE.

Part 1: ‘Fortress Paper chief turns tired mill into major venture.’ Watch video HERE

Part 3: ‘Entrepreneurial paper chief explains contrarian investing strategy’. Watch video HERE

The Globe & Mail three part series called ‘Talking to Entrepreneurs’ featured Chad Wasilenkoff, CEO Fortress Paper.

In part three of the Globe and Mail’s Small Business Editor Katherine Scarrow’s feature video interview with Fortress Paper CEO Chad Wasilenkoff, where she called Chad Wasilenkoff, Fortress Paper a “born entrepreneur”.

Fortress Paper CEO Chad Wasilenkoff discusses growing up an entrepreneur, and why he’s always looking for a good deal in part 3 of Talking to Entrepreneurs

To watch part three of ‘Talking to Entrepreneurs’ please click HERE.

Watch Other Videos In The Series:

Part 1: ‘Fortress Paper chief turns tired mill into major venture.’ Watch video HERE

Part 3: ‘Entrepreneurial paper chief explains contrarian investing strategy’. Watch video HERE

SOURCE:

The Globe and Mail: “Fortress Paper’s big money business”

Globe & Mail Small Business Week Interview Featuring Fortress Paper (Part 2)

Posted: Wednesday, October 19th, 2011

Globe & Mail Small Business Week Interview Featuring Fortress Paper (Part 2)

In part two of the Globe and Mail’s Small Business Editor Katherine Scarrow’s feature interview with Fortress Paper CEO Chad Wasilenkoff, they discuss how printing and protecting money is big business for Fortress Paper.

 Mr. Wasilenkoff discusses Fortress Paper being the ‘sole maker’ of the Swiss Franc for thirty years and how Fortress Paper is in the final stages of the next series Swiss Franc that will come out next year and “be the most state of the art and have more counterfeit features than any other banknote in the world”.

 To watch Part 2 of Fortress Paper in their three-part video series entitled Talking To Entrepreneurs, please click HERE.

 Part 1: Printing and protecting money big business for Fortress Paper.  Watch video HERE

 Part 3: Entrepreneurial paper chief explains contrarian investing strategy. Watch video HERE

SOURCE:

 The Globe & Mail: “Printing and Protecting Money Big Business for Fortress Paper

 

Fortress Paper Featured In Globe & Mail Small Business Week Video Series (Part 1)

Posted: Tuesday, October 18th, 2011

As part of their coverage on Small Business Week, The Globe and Mail launched a three-part video series entitled Talking To Entrepreneurs focused on Fortress Paper Ltd.

In the series the Globe and Mail’s Small Business Editor Katherine Scarrow sits down with Fortress Paper CEO Chad Wasilenkoff to discuss various aspects of his company.

Speaking about his nature as a self-proclaimed “contrarian investor,” Wasilenkoff presents a snapshot of
Fortress Paper’s inception in a time of unprecedented decline in the forestry sector.

“In troubling times like that, there’s always going to be some interesting mill, some interesting product, and somebody has to have something unique, so you just have to pick out those hidden gems,” he says in the interview.

Watch the entire Part 1 video HERE.

Part 2 : Printing and protecting money big business for Fortress Paper.  Watch the Part 2 video HERE.

Part 3: Entrepreneurial paper chief explains contrarian investing strategy.  Watch the Part 3 video HERE.

 

 

SOURCE:
The Globe And Mail: “Fortress Paper Chief Turns Turns Tired Mill Into Major Venture”

Fortress Paper Featured on Small Business Week- three part series

Posted: Friday, October 14th, 2011

The ‘Small Business Week will be featuring Fortress Paper’s CEO, Chad Wasilenkoff. The three part video series starts this week on Tuesday, October 17th .

Small Business Week will take place Oct. 16-22 , and this year’s theme, according to the Business Development Bank of Canada (BDC), is “Power Up Your Business. Invest. Innovate. Grow’. For over thirty years, the BDC has organized Small Business Week to pay tribute to Canadian entrepreneurs.

 

 

Fortress Paper will be presenting at The Vancouver Small-Cap Conference

Posted: Friday, October 14th, 2011

Fortress Paper will be presenting at The Vancouver Small-Cap Conference on October 20th at the Vancouver Convention Centre and invites you to attend. Fortress Paper will have a corporate booth at the event and Chad Wasilenkoff will be presenting at 6:30pm.

Presenting companies come from a variety of industries including mining, technology, telecommunications, oil and gas, financial, manufacturing, and more. The guest speakers will be sharing their outlook on the markets and current economic conditions, and will be providing their top picks for 2011.

Fortress Paper and Chad Wasilenkoff looks forward to seeing you this Thursday at his 6:30pm presentation or at the Fortress Paper booth.

Fortress Paper Announces the Commencement of the Final Phase of the Dissolving Pulp Conversion Project and the Signing of New Banknote Paper Orders

Posted: Wednesday, October 12th, 2011

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Oct. 12, 2011) - Fortress Paper Ltd. (www.fortresspaper.com) (“Fortress” or the “Company”) (TSX:FTP) wishes to announce the commencement of the final phase of the dissolving pulp conversion project at its Fortress Specialty Cellulose Mill in Thurso, Quebec and the signing of new banknote paper orders at its Landqart Mill in Landquart, Switzerland.

Thurso Quebec:

The Fortress Specialty Cellulose Mill was purchased by Fortress in early 2010 with the plan to convert the NBHK mill to a dissolving pulp producer commencing in May 2011. Moreover, the construction of a cogeneration facility to provide 18.8 megawatts per annum of green power to Hydro Quebec for a 15 year term has also recently broken ground, and is scheduled for completion in the second half of 2012.

Peter Vinall, Chief Executive Officer of Fortress Specialty Cellulose, commented: “The Thurso mill conversion has entered the final shutdown phase which represents the ending of NBHK production at the mill. We have mobilized a workforce of over 800 workers on site to assist with final mill connections and de-bottlenecking work. When the mill is restarted in early November it will be a low cost, high quality dissolving pulp producer with an annual production capacity of approximately 200,000 tonnes.”

Landqart Switzerland:

Fortress Paper’s Lanqart Mill reports the signing of new banknote paper contracts for 2012, which represent a significant portion of the mill’s annual banknote production capacity.

Chad Wasilenkoff, Chief Executive Officer of Fortress Paper, commented: “Our Landqart Mill was among the winning bids for a number of banknote contracts. Bidding on contracts of this volume would not have been possible prior to our recent PM1 banknote machine upgrade, which increased our overall annual production capacity from 2,500 to 10,000 tonnes.”

About Fortress Paper

Fortress Paper is a leading international producer of security and other specialty papers and products. Fortress 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 includes specialty pulp produced at the Fortress Specialty Cellulose Mill, which is currently in the process of converting 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 regarding the timing of completion of its conversion project and cogeneration facility. 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 Company operates. 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, risks relating to potential disruptions to production and delivery, regulatory requirements, changes in the market, potential downturns in economic conditions, fluctuations in the price and supply of required materials, foreign exchange fluctuations, labour relations, dependence on major customers, and other risk factors listed from time to time in the Company’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, 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.

SOURCE: Marketwire 

 

Fortress Paper Announces Second Quarter 2011 Results

Posted: Tuesday, August 9th, 2011

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Aug. 8, 2011) -

Fortress Paper Ltd. (TSX:FTP) (“Fortress Paper” or the “Company”) reported 2011 second quarter EBITDA of $4.6 million on sales of $90.3 million. For the first quarter of 2011 EBITDA was $1.0 million on sales of $85.5 million and for the three months ended June 30, 2010 EBITDA was $8.3 million on sales of $60.5 million.

Fortress reported adjusted net loss of $1.0 million for the second quarter of 2011 or diluted adjusted loss per share of $0.07. In the first quarter of 2011 the Company reported adjusted net loss of $5.6 million or diluted adjusted loss per share of $0.42. For the second quarter of 2010 the Company reported adjusted net income of $4.5 million or diluted adjusted earnings per share of $0.39.

The Pulp Segment produced operating earnings of $3.3 million in the second quarter of 2011. This result reflects the innovation of our team to tailor a unique specialty product which enabled us to realize significantly higher pricing and a margin that could not have been attained producing traditional NBHK. Not only did this provide improved financial results, but through the extensive development and training that occurred to achieve the tolerances required for this new specialty grade pulp, we are better prepared for the coming transition to dissolving pulp production.

The non-woven wallpaper base segment nearly equaled its record first quarter performance with operating earnings of $6.8 million. Margins remain strong and the order log is healthy. We will complete an additional upgrade to our facility during our annual August maintenance shutdown. This will add approximately 10% additional capacity which is expected to have a positive impact starting in the third quarter of 2011. The waste recycling plant continues to increase the overall efficiency of the mill allowing us to further improve our competitive position.

The security and specialty paper segment experienced another challenging quarter with an operating loss of $6.8 million. The newly converted PM1 to a high security paper-machine is performing to specifications; however, similar to the first quarter of 2011, the Landqart mill second quarter 2011 results were impacted by high raw material costs and industry overcapacity due in part to the postponement of implementation of several major currencies. In addition, the strong Swiss currency continues to have a negative impact on the operational cost structure of the mill. As previously reported, the mill has consolidated production of bank note and security papers into PM1 and has temporarily suspended the commercial operation of the smaller PM2 which will be utilized for trials and sample production until such time as this additional capacity is required.

EBITDA is defined as net income before interest, income taxes, depreciation, amortization, non-operating income and expenses and stock based compensation which the Company considers to be a key performance indicator. Adjusted net income (loss) is calculated as net income (loss) less specific items affecting comparability with prior periods and adjusted net income (loss) per share is calculated as adjusted net income (loss) divided by the weighted average number of shares outstanding in the period. EBITDA, adjusted net income (loss) and adjusted net income (loss) per share are not generally accepted earnings measures and should not be considered as an alternative to net income or cash flows as determined in accordance with Canadian GAAP. As there is no standardized method of calculating these measures, the Company’s EBITDA, adjusted net income (loss) and adjusted net income (loss) per share may not be directly comparable with similarly titled measures used by other companies.

Selected Financial Information

The selected financial information presented herein is qualified in its entirety by, and should be read in conjunction with, our unaudited consolidated financial statements as at and for the three and six month periods ended June 30, 2011 and the related notes thereon and our Management’s Discussion and Analysis filed on SEDAR.

Three Months Ended June 30, 2011
(thousands of dollars, except per unit amounts and shipments, unaudited) Q2 2011 Q1 2011 Q2 2010
Sales 89,906 85,488 60,544
EBITDA1 4,601 951 8,334
Operating (loss) income 619 (3,100 ) 2,374
Net (loss) income 2,907 (5,727 ) 41,816
Adjusted net (loss) income (982 ) (5,605 ) 4,514
Paper shipments (tonnes) 14,670 15,468 16,324
Pulp shipments (tonnes) 54,384 56,361 18,848
1See net income to EBITDA reconciliation.
Net income to EBITDA reconciliation:
(thousands of dollars, unaudited) Q2 2011 Q1 2011 Q2 2010
Net income 2,907 $(5,727 ) 41,816
Income tax 740 1,536 1,013
Foreign exchange (gain) loss (3,889 ) 122 1,134
Net interest expense (income) 861 969 215
Fair value gain on acquisition - - (41,804 )
Start-up costs - - 3,368
Amortization 3,394 3,508 1,921
Stock based compensation 588 543 671
EBITDA 4,601 951 8,334

The Company

Fortress Paper is a leading international producer of security and other specialty papers and products. Fortress 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 includes NBHK produced at the Fortress Specialty Cellulose Mill currently in process of converting this capacity into dissolving pulp production along with the construction of a biomass based cogeneration plant.

Conference Call

A conference call to discuss the financial results for the second quarter 2011 will be held on August 9, 2011 at 9:30 a.m. (PST). To attend the conference call, please dial one of the following numbers:

North America: 1-877-353-9586

International: 1-403-532-8075

Participant pass code: 98030#

Conference reference No.: 604941

A replay of the conference call will be available for 7 days. To access the replay, listeners may dial 1-877-353-9587 from North America or 403-699-1055 International. The conference reference number is 604941 followed by the number sign and the participant pass code to access the replay is 98030 followed by the number sign.

Forward-Looking Statements

Some information in this news release contains forward-looking statements that reflect the current views and/or expectations of the Company with respect to its performance, business and future events. The reader is cautioned that forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements including, without limitation, those relating to damage to our reputation, competition, maintaining our market position, marketability and price of our products, technology and protection of our intellectual property, dependence on our major customers, fluctuations in the price and supply of raw materials, fluctuations in foreign exchange and other risk factors detailed in our filings with Canadian securities regulatory authorities. These risks, as well as others, could cause actual results and events to vary significantly. Fortress Paper Ltd. does not undertake any obligation to release publicly any revisions for updating any voluntary forward-looking statements.

 

Contact Information

Fortress Paper Ltd.

Mr. Chadwick Wasilenkoff / Chief Executive Officer

604-904-2328

info@fortresspaper.com www.fortresspaper.com

 

SOURCE:

Marketwire

Fortress Paper Ltd.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Fortress Paper Announces Fourth Quarter 2010 Results

Posted: Monday, March 14th, 2011

Fortress Paper Ltd. (TSX:FTP) (“Fortress Paper” or the “Company”) reported 2010 fourth quarter EBITDA of $3.2 million. For the three months ended December 31, 2009 EBITDA was $7.9 million and for the third quarter of 2010 EBITDA was $8.9 million.

The fourth quarter of 2010 reflects continued strong profitability at our Dresden operations. At Landqart, the Company completed the successful transformation of paper-machine number 1 (“PM1″) to a high security paper-machine. This comprehensive project had a negative impact on fourth quarter earnings as there was no commercial production on the PM1 for two months. The results at Fortress Specialty Cellulose reflect weakening NBHK prices that have come off their peaks from earlier in the year. The conversion of the Fortress Specialty Cellulose mill to a dissolving pulp producer remains on target for production in the third quarter of 2011. The underlying markets for dissolving pulp remain strong which continues to provide management with conviction in our attempts to expand further in this business segment.

Overall 2010 was another successful year for Fortress Paper Ltd. with the following significant accomplishments:

  • The acquisition by Fortress Specialty Cellulose of the Thurso mill from Fraser Papers and its successful start-up as a NBHK pulp producer.
  • Significant advancements with the conversion project of Fortress Specialty Cellulose to a dissolving mill scheduled for completion in the third quarter of 2011.
  • Substantial completion of the rebuild of PM1 at Landqart by the end of 2010.
  • Continued market share growth in the non-woven wallpaper market at the Dresden mill.

Fortress reported adjusted net loss of $0.8 million for the fourth quarter of 2010 on sales of $83.5 million or diluted loss per share of $0.06. For the fourth quarter of 2009 the Company report adjusted net income of $4.8 million or diluted adjusted earnings per share of $0.46 on sales of $51.0 million. In the third quarter of 2010 the Company reported adjusted net income of $3.9 million on sales of $87.0 million or diluted adjusted earnings per share of $0.29. The primary reason for the decline, relative to the prior quarter, is attributed to weaker NBHK pulp prices which remained below their June peak prices throughout the fourth quarter of 2010. In addition our Landqart mill underwent a significant portion of the PM1 upgrade. The acceptance and production of lower margin banknote orders in preparation for increased capacity in 2011 also contributed to the decrease in net income compared to prior periods. Effective October 31, 2010 the last order of specialty papers was produced at Landqart. By the end of December, the full conversion was substantially complete and production of saleable security paper on the transformed PM1 began in early January 2011. Both the NBHK pulp price impact at Fortress Specialty Cellulose and the conversion at Landqart overshadowed an excellent fourth quarter at Dresden.

EBITDA was $26.1 million for the year ended December 31, 2010 compared to $25.6 million for the year ended December 31, 2009. Excluding corporate costs, Dresden, Landqart and Fortress Specialty Cellulose combined mill EBITDA was $31.7 million and $29.1 million in the years ended December 31, 2010 and 2009, respectively. Despite significant EUR depreciation in the year the Dresden mill was able to contribute $21.9 million EBITDA which was in line with the previous year at $21.6 million. The Landqart mill produced significantly lower results ($0.5 million EBITDA) than the prior year ($7.5 million EBITDA) in large part due to the conversion of PM1 as previously stated. The Fortress Specialty Cellulose mill, purchased April 30, 2010, provided approximately $9.3 million of EBITDA.

Adjusted net income for the year ended December 31, 2010 was $10.4 million or $0.84 per share (diluted). Adjusted net income for the previous year comparative period was $13.8 million or $1.35 per share (diluted).

EBITDA is defined as net income before interest, income taxes, depreciation, amortization, non-operating income and expenses and stock based compensation which the Company considers to be a key performance indicator. Adjusted Net Income (Loss) is calculated as Net Income (Loss) less specific items affecting comparability with prior periods and Adjusted Net Income (Loss) per Share is calculated as Adjusted Net Income (Loss) divided by the weighted average number of shares outstanding in the period. EBITDA, Adjusted Net Income (Loss) and Adjusted Net Income (Loss) per Share are not generally accepted earnings measures and should not be considered as an alternative to net income or cash flows as determined in accordance with Canadian GAAP. As there is no standardized method of calculating these measures, the Company’s EBITDA, Adjusted Net Income (Loss) and Adjusted Net Income (Loss) per Share may not be directly comparable with similarly titled measures used by other companies.

Subsequent to December 31, 2010:

  • Fortress completed the acquisition of the assets of the Bank of Canada’s Optical Security Material (OSM) division (the “OSM Assets”), which produces the optically variable material for the security threads contained in various banknotes, including application in the Canadian banknotes. The Company paid a purchase price of $0.75 million for the OSM assets and granted the Bank of Canada a royalty-free license to use the intellectual property sold to the Company for Canadian banknote applications.
  • Fortress completed a public offering of 967,000 common shares of the Company and the underwriters exercised their over-allotment option and purchased an additional 145,050 common shares at a price of $51.75 per share, resulting in aggregate gross proceeds under the offering of $57.5 million. Proceeds of the offering will be used to finance certain capital expenditures relating to its Fortress Specialty Cellulose Mill in Thurso, Quebec and the construction of a high security facility adjacent to the Fortress Specialty Cellulose Mill which will house the Company’s OSM Assets recently acquired from the Bank of Canada, and for working capital and general corporate purposes.
  • Fortress‘ wholly-owned subsidiary Dresden Papier GmbH (“Dresden”) increased the current credit facility amounting to EUR18.5 million to EUR 22.15 million for the rebuild of Landqart’s PM1 into a banknote paper-machine.
  • The remaining $7 million principal amount of the Company’s $15 million unsecured convertible debenture that was issued on April 30, 2010 has been converted. The Company has issued 350,000 common shares with this redemption.

Selected Financial Information

The selected financial information presented herein is qualified in its entirety by, and should be read in conjunction with, our audited consolidated financial statements as at and for the year ended December 31, 2010 and the related notes thereon and our Management’s Discussion and Analysis filed on SEDAR.

Three Months Ended December 31, 2010
(thousands of dollars, except shipments, unaudited) Q4 2010 Q3 2010 Q4 2009
Sales 83,467 86,971 51,049
EBITDA1 3,237 8,930 7,885
Operating (loss) income (10,775 ) 6,159 6,292
Net (loss) income (10,953 ) 5,148 3,720
Adjusted net (loss) income (751 ) 3,854 4,793
Paper Shipments (tonnes) 15,406 16,452 15,291
Pulp Shipments (tonnes) 62,038 60,469 -
1 See net income to EBITDA reconciliation.
Net income to EBITDA reconciliation:
(thousands of dollars, unaudited) Q4 2010 Q3 2010 Q4 2009
Net (loss) income $ (10,953 ) $ 5,148 $ 3,720
Income tax 1,305 2,243 1,199
Foreign exchange (gain) loss (1,099 ) (1,294 ) 1,073
Interest expense (29 ) 62 300
Amortization 3,029 2,192 1,441
Stock based compensation 5,983 579 152
Executive Cash Award 5,000 - -
EBITDA

The Company

Fortress Paper is a leading international producer of security and other specialty papers and products. Fortress 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 includes NBHK produced at 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.

Conference Call

A conference call to discuss the financial results for the fourth quarter 2010 will be held on March 15, 2011 at 9:30 a.m. (PST). To attend the conference call, please dial one of the following numbers:

North America: 1-877-353-9586

International: 1-403-532-8075

Participant pass code: 98030#

A replay of the conference call will be available for 7 days. To access the replay, listeners may dial 1-877-353-9587 from North America or 403-699-1055 International. The pass code to access the replay is 537274#.

Forward-Looking Statements

Some information in this news release contains forward-looking statements that reflect the current views and/or expectations of the Company with respect to its performance, business and future events. The reader is cautioned that forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements including, without limitation, those relating to damage to our reputation, competition, maintaining our market position, marketability and price of our products, technology and protection of our intellectual property, dependence on our major customers, fluctuations in the price and supply of raw materials, fluctuations in foreign exchange and other risk factors detailed in our filings with Canadian securities regulatory authorities. These risks, as well as others, could cause actual results and events to vary significantly. Fortress Paper Ltd. does not undertake any obligation to release publicly any revisions for updating any voluntary forward-looking statements.

Source: Marketwire

 

Chad Wasilenkoff Nominated as one of BNN’s Top Newsmakers 2010

Posted: Wednesday, December 22nd, 2010

Chad Wasilenkoff, CEO of Fortress Paper Ltd., made it onto BNN’s Top Newsmaker of the Year 2010, a list that recognizes game-changing business leaders in Canada.

Wasilenkoff was acknowledged this year for picking up the bankrupt pulp mill in Thurso, Quebec and acquiring Optical Security Assets from the Bank of Canada, a division that makes security threads for paper money. His original $2-million investment in Fortress is worth 80 million today, and his stock is up 300% over the last year.

Saskatchewan Premier Brad Wall was chosen as the Top Newsmaker of 2010 for his role in the tabled hostile takeover of Potash Corporation by BHP Billiton.

Source:

Broadcaster: “BNN Names Brad Wall as Year’s Top Business Newsmaker”

Leader Post: “BNN names Premier Brad Wall the Canadian Newsmaker of the Year”

BNN’s Brett Harris Highlights Fortress Paper on “The Close”

Posted: Thursday, December 9th, 2010

Brett Harris, Western Bureau Chief for the Business News Network, discussed Fortress Paper’s recent acquisition in an interview yesterday.

The acquisition of the Bank of Canada’s division of Optical Security Material was described by Brett as a “relatively small, but pretty interesting one.”

According to Brett, the purchase will lower costs for Fortress and make them more competitive.  They will be able to produce something themselves that they had to go elsewhere to buy in the past, which in turn will allow them to push forward with their business.

Stay tuned for more information on the acquisition.