Fortress Paper Reports Third Quarter 2017 Results

By Fortress Paper Ltd.
Canada Newswire
November 9, 2017
Category: Business & Politics
Region: Canada, Canada West

Fortress Paper Ltd. (TSX:FTP) (OTCQX:FTPLF) reported 2017 third quarter operating EBITDA of $0.2 million, a decrease of $7.4 million relative to the comparative prior year period and a decrease of $4.1 million over the previous quarter.  The Security Paper Products Segment generated operating EBITDA of $1.8 million, the Dissolving Pulp Segment generated operating EBITDA loss of $0.5 million, and corporate costs were $1.1 million in the third quarter of 2017. …The results of the third quarter of 2017 were also negatively impacted by approximately 5% lower realized sales prices, a stronger Canadian dollar relative to the US dollar and higher costs associated with the previously mentioned evaporation bottleneck which is scheduled to be permanently remediated during the fourth quarter annual planned shutdown.

Read More