Fortress Paper reports auxiliary system failure at its dissolving pulp mill
22 September 2017 - 1:47PM
PR Newswire (Canada)
VANCOUVER, Sept. 21, 2017 /CNW/ - Fortress Paper Ltd.
("Fortress Paper" or the "Company") (TSX:FTP)
(OTCQX:FTPLF) reports that it has experienced a burst in a
pressurized auxiliary gas collection system relating to one of the
recovery boilers at the Fortress Specialty Cellulose Mill (the
"FSC Mill") in Thurso,
Québec. Health and safety protocols were immediately implemented
and applicable government authorities were notified.
There were no injuries and no material damage to property or
environmental impact. The Company is in the process of determining
the cause of the failure and assessing the operational impact on
the FSC Mill. The cogeneration facility continues to operate at a
reduced rate and the Company is reviewing the timing for
re-starting the mill. The Company carries customary property damage
and business interruption insurance with a $2.5 million deductible. There is no assurance of
the outcome of an insurance claim or if the losses caused by the
failure will exceed the deductible. The Company will provide
further updates once such assessments are completed.
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 FSC Mill, which has
expanded into the renewable energy generation sector with the
construction of a 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.
SOURCE Fortress Paper Ltd.
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