Fortress Paper Ltd.

Fortress Paper Ltd.

February 18, 2013 03:00 ET

Fortress Paper Announces Appointment of Yvon Pelletier as President of Dissolving Pulp Business

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 18, 2013) - Fortress Paper Ltd. ("Fortress Paper" or the "Corporation") (TSX:FTP) is pleased to announce the appointment of Yvon Pelletier as President of its dissolving pulp business, effective February 25, 2013.

Mr. Pelletier has over 30 years of experience in the pulp and paper industry and has held leadership roles in technical, operational, and commercial areas. Prior to joining the Fortress group, Mr. Pelletier was the Executive Vice President of Tembec Inc., a leading international manufacturer of forest products, and President of its Specialty Cellulose and Chemical Group. As a senior executive at Tembec, Mr. Pelletier has acted as General Manager of various dissolving pulp and kraft pulp operations, and has acted as Senior Vice President of the company's Kraft Pulp Division, overseeing three mills in Canada and two in France.

Mr. Pelletier's role will include leading Fortress Paper's dissolving pulp business which currently operates through the Fortress Specialty Cellulose Mill and the Fortress Global Cellulose Mill. Mr. Pelletier replaces Peter Vinall, who has been with the Corporation since 2010.

Chadwick Wasilenkoff, Chief Executive Officer of Fortress Paper, commented: "We are very pleased to have someone of Yvon Pelletier's extensive experience joining our team. Yvon has an intimate knowledge of the dissolving pulp industry, having lead complex mill operations and implementing many capital expenditure and upgrade projects, and has a proven record of success in improving business performance. We believe that Yvon's appointment will provide enhanced strategic leadership to our dissolving pulp business, and that he possesses the technical skills and practical local expertise which will be a significant benefit in advancing our dissolving pulp projects and business objectives."

About Fortress Paper

Fortress Paper operates internationally in three distinct business segments: dissolving pulp, specialty papers and security paper products. The Company operates its dissolving pulp business at the Fortress Specialty Cellulose Mill located in Canada, which is also in the process of expanding into the renewable energy generation sector with the construction of a cogeneration facility. The Company is also seeking to expand its dissolving pulp capacity with the recent acquisition of the Fortress Global Cellulose Mill located at Lebel-sur-Quévillon, Québec, which the Company intends to convert into a dissolving pulp mill and where the Company intends to re-start the cogeneration facility.

The Company operates its specialty papers business at the Dresden Mill located in Germany, where it is a leading international producer of specialty non-woven wallpaper base products. 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, and at its Fortress Optical Facility located in Canada, where it manufacturers optically variable thin film material.

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