VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 1, 2014) - Fortress Paper Ltd. ("Fortress Paper" or the "Company") (TSX:FTP) announced today that its Landqart Mill's Durasafe® banknote paper has been confirmed as the substrate of the ninth series of the Swiss Franc by the Swiss National Bank (SNB).
Durasafe® is the innovative new composite paper-polymer-paper banknote substrate developed by the Company's Swiss security paper manufacturer, Landqart AG, in cooperation with the Swiss Federal Institute of Technology (ETH) Zürich. Durasafe® is composed of two cotton paper outer layers with a fully transparent polymer core. The polymer core in Durasafe® adds stability and higher mechanical strength properties to banknotes as well as high security features. The substrate's unique properties allow windows to be formed virtually anywhere on the banknote and can contain a watermark and security fibres as well as traditional security features, including easy-to-recognise banknote paper tactility.
Chadwick Wasilenkoff, Chief Executive Officer of Fortress Paper, commented: "After several years of development, we are pleased to have Durasafe® accepted as the substrate for the new Swiss Franc series. The Swiss Franc is widely accepted as having one of the highest standards of banknote security features in the world and we believe this reference contract will enable us to further generate interest with state banks around the world."
About Fortress Paper
Fortress Paper operates internationally in two distinct business segments: dissolving pulp and security paper products. The Company operates its dissolving pulp business at the Fortress Specialty Cellulose Mill located in Canada, which has expanded into the renewable energy generation sector with the construction of a cogeneration facility and the production of NBHK pulp. The Company is also evaluating expanding its dissolving pulp capacity by converting the Fortress Global Cellulose Mill located at Lebel-sur-Quévillon, Québec into a dissolving pulp mill and re-starting the cogeneration facility. 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 high security production and research facility located in Canada, where it manufactures optically variable thin film material.
This press release contains certain forward-looking statements that reflect the current views and/or expectations of Fortress Paper with respect to growth and future prospects for our security paper products business. The reader is cautioned that forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other factors which are difficult to predict and that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. 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. Assumptions underlying the Company's expectations regarding forward-looking statements contained in this news release include, among others: that we will be able to effectively market our security paper products; that the Landqart Mill will secure new orders; and that our equipment will operate at expected levels. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, that market conditions for security paper products will be unfavourable, that there will be unforeseen disruptions to production and delivery at the Landqart Mill, and that the Company will be unable to effectively market its security paper products. 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.