Fraser Papers Inc.

Fraser Papers Inc.

February 09, 2010 12:33 ET

Fraser Papers' Unionized Employees Vote to Accept New Labour Agreement in Madawaska, Maine

TORONTO, ONTARIO--(Marketwire - Feb. 9, 2010) - Fraser Papers Inc. ("Fraser Papers" or the "Company") announced today that United Steelworkers Locals 291, 365 and 1247 have ratified a new three-year labour agreement at its 375,000 ton per year specialty papers mill located in Madawaska, Maine.

"The agreement reached last night represents another step forward toward a successful but difficult restructuring of our specialty papers business," said Peter Gordon, Chief Executive Officer of Fraser Papers. "We want to recognize our employees, who have recommitted to our business through this contract, as well as those who were directly involved in reaching this agreement in challenging circumstances. We also want to express appreciation to our customers and suppliers for their continued support."

Fraser Papers is an integrated specialty paper company that produces a broad range of specialty packaging and printing papers. The Company has operations in New Brunswick, Maine, New Hampshire and Québec. For more information, visit the Fraser Papers web site at www.fraserpapers.com.

Note: This press release contains forward-looking information and forward-looking statements within the meaning of Canadian provincial securities laws. These forward-looking statements include, among others, statements with respect to the success of the Company's restructuring. The word, "toward" and other expressions which may be predictions of or indicate future events and trends and which do not relate to historical matters identify forward-looking statements. Reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements. Factors that could cause actual results of the restructuring to differ materially from those set forth in the forward-looking statements include general economic conditions, demand for the Company's products, production issues, cost or availability of fibre, energy and chemicals, and other risks detailed from time to time in the documents filed by the Company with the securities regulators in Canada. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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