Posts Tagged ‘fortress paper’

FORTRESS PAPER ANNOUNCES SECOND QUARTER 2012 RESULTS

Posted: Friday, September 7th, 2012

To read the Fortress Paper press release, please click here.

FORTRESS PAPER ANNOUNCES SECOND QUARTER 2012 RESULTS

Posted: Tuesday, August 7th, 2012

To read the Fortress Paper press release, please click here.

FORTRESS PAPER SECOND QUARTER 2012 EARNINGS CONFERENCE CALL

Posted: Tuesday, August 7th, 2012

Fortress Paper Ltd. (“Fortress Paper” or the “Corporation”) in connection with the release of second quarter results,  will host a conference call Wednesday, August 8th, 2012 at 8:00 a.m. (EDT) to discuss the financial results and the Corporation’s operations. Mr. Chadwick Wasilenkoff, President & Chief Executive Officer, Kurt Loewen, Chief Financial Officer, Mr. Alfonso Ciotola, Chief Executive Officer of Landqart and Peter Vinall, President and Chief Executive Officer of Fortress Specialty Cellulose Inc. will host the call.

To participate in the conference call, please dial one of the following numbers:

Dial In Numbers:

604-681-8564 Vancouver

403-532-5601 Calgary or International

780-429-5820 Edmonton

416-623-0333 Toronto

613-212-0171 Ottawa

514-687-4017 Montreal

Toll Free Dial In Number: 1-855-353-9183 from Canada and USA

Participant Pass Code: 15086# Conference Reference Number: 844739#

A replay of the conference call will be available for 7 days. To access the replay, listeners may dial 1-855-201-2300 from Canada or the USA or dial 403-255-0697 from local Calgary or International. The conference reference number is 844739 # and the participant pass code to access the replay is 15086 #.

Source: Fortress Paper Ltd.

Fortress Paper to Release First Quarter 2012 Earnings

Posted: Friday, April 27th, 2012

Fortress Paper Ltd. (TSX:FTP) (“Fortress Paper” or the “Corporation”) announced today that it intends to release its first quarter financial results for the period ended March 31st, 2012 after the close of the market on Monday, May 14th, 2012. In connection with the release of its results, Fortress Paper will host a conference call Tuesday, May 15th, 2012 at 9:30 a.m. (PST) to discuss the financial results and the Corporation’s operations. Mr. Chadwick Wasilenkoff, President & Chief Executive Officer, Kurt Loewen, Chief Financial Officer and Peter Vinall, President and Chief Executive Officer of Fortress Specialty Cellulose Inc. will host the call.

To participate in the conference call, please dial one of the following numbers:

Dial In Numbers: 604-681-8564 Vancouver
403-532-5601 Calgary or International
780-429-5820 Edmonton
416-623-0333 Toronto
613-212-0171 Ottawa
514-687-4017 Montreal
Toll Free Dial in Number: 1-855-353-9183 from Canada and USA
Participant Pass Code: 15086#
Conference Reference Number: 770462

A replay of the conference call will be available for 7 days. To access the replay, listeners may dial 1-855-201-2300 from Canada & the USA. The conference reference number is 770462 # and the participant pass code to access the replay is 15086 #.

Source: Fortress PaperMarketwire

Fortress Paper to Release Fourth Quarter 2011 Earnings

Posted: Thursday, February 16th, 2012

Fortress Paper Ltd. (“Fortress Paper” or the “Corporation”) (TSX:FTP) announced today that it intends to release its fourth quarter financial results for the period ended December 31st, 2011 after the close of the market on Monday, March 5th, 2012. In connection with the release of its results, Fortress Paper Ltd. will host a conference call Tuesday, March 6th, 2012 at 9:30 a.m. (PST) to discuss the financial results and the Corporation’s operations. Mr. Chadwick Wasilenkoff, Chief Executive Officer, Alfonso Ciotola, President, Kurt Loewen, Chief Financial Officer and Peter Vinall, President and Chief Executive Officer of Fortress Specialty Cellulose Inc. will host the call.

To participate in the conference call, please dial one of the following numbers:

Dial In Numbers: 604-681-8564 Vancouver
403-532-5601 Calgary or International
780-429-5820 Edmonton
416-623-0333 Toronto
613-212-0171 Ottawa
514-687-4017 Montreal
Toll Free Dial In Number: 1-855-353-9183 from Canada and USA
Participant Pass Code: 15086#
Conference Reference Number: 765945
A replay of the conference call will be available for 7 days. To access the replay, listeners may dial 1-855-201-2300 from Canada & the USA. The conference reference number is 765945 # and the participant pass code to access the replay is 15086 #.

SOURCES:

Fortress Paper Ltd., and Marketwire

Fortress Paper Announces Increase in Previously Announced Public Offering of Convertible Debentures to $35 Million

Posted: Thursday, December 8th, 2011

Fortress Paper Ltd. (TSX:FTP) (“Fortress Paper” or the “Company”) is pleased to announce that, in response to strong investor demand, it has increased its previously announced bought deal public offering from $30 million to $35 million principal amount of convertible unsecured subordinated debentures (the “Debentures”) on the same terms as the previously announced offering. A syndicate led by Raymond James Ltd. and including Canaccord Genuity Corp., Dundee Securities Ltd., RBC Capital Markets, Scotia Capital Inc., TD Securities Inc., Cormark Securities Inc. and Acumen Capital Finance Partners Ltd. (collectively, the “Underwriters”) have agreed to purchase the Debentures at a price of $1,000 per Debenture. Fortress Paper has also granted the underwriters an over-allotment option to purchase up to an additional $5.25 million aggregate principal amount of debentures for a period of 30 days following closing to cover over-allotments.

The net proceeds of the financing will be used for repayment of debt, the funding of capital expenditures relating to the Fortress Specialty Cellulose Mill, working capital and general corporate purposes.

The offering is scheduled to close on or about December 22, 2011 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange.

A preliminary short-form prospectus will be filed with securities regulatory authorities in all provinces of Canada.

Please refer to the press release issued by the Company on December 7, 2011 for further details with respect to the offering.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered will not be and have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold in the United States except pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws.

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 includes dissolving pulp produced at the Fortress Specialty Cellulose Mill.

SOURCES: Fortress Paper Ltd., and Marketwire

Fortress Paper Commences Dissolving Pulp Production and Provides Corporate Update

Posted: Monday, December 5th, 2011

Fortress Paper Ltd. (“Fortress Paper” or the “Company”) (TSX:FTP) announced today that it has commenced dissolving pulp production at its Fortress Specialty Cellulose Mill in Thurso, Quebec. The centerpiece of the project, a new state of the art pre-hydrolized kraft cooking plant, came on line successfully on Sunday. The commencement of dissolving pulp production signifies the successful completion of the conversion of the Fortress Specialty Cellulose Mill into a dissolving pulp operation.

Chad Wasilenkoff, Chairman and Chief Executive Officer of Fortress Paper, commented: “This is a momentous day in the history of Fortress Paper and a culmination of our work at the Fortress Specialty Cellulose Mill since acquiring the mill in April 2010. We are very proud to join the limited group of dissolving pulp producers in the world and look forward to completing our first shipments. We would like to thank all those involved in helping bring this project on line.”

Dresden Mill

The Dresden Mill continues to lead the non-woven wallpaper base market globally. The order book remains strong and its recent upgrades to improve speed and capacity have been successfully implemented. During the past few months, Fortress Paper in its normal course has been reviewing each of its business divisions and assessing all options as part of its strategy to enhance shareholder value. As part of this ongoing evaluation, management identified a potential divestiture opportunity relating to its non-woven wallpaper base division. Given the financial uncertainties and lack of financial confidence in the Euro zone, Fortress Paper management decided not to pursue any divestiture option for the Dresden Mill. With the support of its management team in Germany, Fortress Paper intends to continue to grow this business division organically and potentially through strategic acquisitions.

Landqart Mill

The Landqart Mill has continued to experience challenges throughout the fourth quarter as a result of a strong Swiss franc, high raw material costs, and less than optimal production efficiency on its paper machines. The company expects that these issues will continue to materially impact results of operations in the fourth quarter. The Company anticipates that it will overcome many of these challenges with the new banknote paper orders that have recently been placed at the mill and which represent a significant portion of the mill’s 2012 banknote capacity.

 

SOURCE: Fortress Paper Ltd., and Marketwire.

“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”

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”

BBC Features Fortress Paper’s Banknote Facility

Posted: Friday, September 23rd, 2011

BBC News visited Fortress Paper’s facility in Landquart, Switzerland this week to learn about the process of making banknotes.

In a video featured in the BBC’s Business section, Marco Ziethen, the production manager at Landquart, takes reporter Lucy Burton through a step-by-step guide to manufacturing banknotes. From importing, refining and bleaching cotton, Ziethen showed how cotton gets turned into currency. Ziethen also explained how, as the paper is being made, security features are embedded in order to prevent counterfeiting of whatever currency is being produced.

The Landquart facility produces an astonishing number of banknotes each day, said the BBC.

“Each pallet has 18,000 sheets of paper on it. Each sheet will eventually be cut into 54 notes. That is an impressive 972,000 notes on each pallet. The mill runs 24 hours a day and it takes half an hour to make a pallet. So, overall, the mill can turn out around 46,656,000 notes per day,” Burton wrote. “If they are making 500-euro notes that day, the amount of money passing through these doors is simply mind-boggling.”

Vancouver-based Fortress Paper Ltd., has made significant strides in production since they began running the Swiss mill, going from “producing less than 1,000 tonnes of paper per year to 10,000 tonnes per year,” according to the BBC article.

Getting to this point, however hasn’t been easy. In another video posted on their site, Fortress Paper CEO Chad Wasilenkoff said the business provided some initial challenges.

“The banknote and passport industry is a very closed group of people,” he said. “A lot of the companies that are operating in this space have been operating since the 1500s or 1600s so we’re a fairly new entry into this.”

Getting reference orders and new contracts with national banks can be challenging, said Wasilenkoff, but Fortress has made some impressive in-roads acquiring large contracts with countries such as Switzerland to produce the Swiss franc – considered to be an industry standard in security.

In addition to these contracts, the banknote industry is one that is perpetually in flux. As technologies change, national banks have to keep updating security features on their banknotes to curb counterfeiting.

“Fortress hopes that the Landquart mill can help banks to ‘stay ahead of the curve’ and of course – make some money in the process,” Burton wrote.

Read the full BBC article and watch the videos HERE.

SOURCE:
BBC News: “How To Make Money From Making Money”