Twin Rivers Paper Company

Twin Rivers Paper Company

May 20, 2010 17:53 ET

Twin Rivers Paper Hosts Official Opening With Local and Regional Dignitaries

MADAWASKA, MAINE--(Marketwire - May 20, 2010) -

(All financial references are in U.S. dollars unless otherwise noted)

Twin Rivers Paper Company welcomed local, regional and federal officials to the Madawaska mill today for an official opening to communicate the strategy of the new company and to thank state and community leaders for their support through the restructuring process.

"The launch of Twin Rivers represents a new beginning. With a focus on specialty papers, a more competitive cost structure, and continued emphasis on service and innovation, we are well-positioned to achieve long-term profitability," said Jeffrey Dutton, President and CEO. "Because of the hard work and sacrifice on the part of our employees, the commitment and vision of our leadership team, and assistance from our communities and government, we are operating today. Thank you for the support."

In outlining the company strategy, Dutton said he expects Twin Rivers will generate approximately $400 million in revenue and manufacture up to 380,000 tons of specialty paper. By focusing on specialty paper, the company will sell a portfolio of sustainable and differentiated products coupled with a market-leading service platform. As Twin Rivers, the company has lowered its exposure to oil and purchased fiber, upgraded its core facilities, and completed significant cost reduction initiatives.

A partial list of attendees included:

State Representative and Retired Employee – Ken Theriault
Town Manager of Madawaska – Christina Therrien
Town Manager of St. Agatha – Christy Sirois
Town Manager of Fort Kent – Don Guimond

Twin Rivers Paper Company Inc. is an integrated specialty paper company that manufactures publishing, packaging and label products for targeted markets and applications. The company has paper, pulp and lumber operations in New Brunswick and Maine and a technology center in Québec. For more information visit the Twin Rivers Paper Company web site at www.twinriverspaper.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 business strategy of Twin Rivers Paper Company (the "Company"); the Company's future profitability, revenue generation, production volumes and product portfolio. The words "strategy", "focus", "continue", "achieve", "vision", "expect", "will", "approximate", variations of those words and other words and 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 business strategy, profitability, revenue generation, production volumes and product portfolio to differ materially from those set forth in the forward-looking statements include general economic conditions, interest rates, unforeseen costs or production issues, changes in industry trends and other risks. 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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