Settlement proposal in the collective labour agreement negotiations for UPM Pulp

Paper Excellence Canada announced it has donated $50,000 to the Canadian Red Cross. A majority of the donation will support ongoing emergency management operations in British Columbia and Saskatchewan, while a donation of $20,000 was made earlier this fall to Nova Scotia Red Cross in response to Hurricane Fiona. Paper Excellence Canada currently has operations in British Columbia, Saskatchewan, and Nova Scotia. “The Red Cross is a constant, comforting presence across the world, but that is especially true here at home in Canada, so we are very pleased to be supporting the Red Cross in the provinces where Paper Excellence Canada operates,” said Graham Kissack, Vice President EH&S and Corporate Communications for Paper Excellence Canada.

Fortress Paper Ltd. reported 2017 second quarter operating EBITDA of $4.3 million, a decrease of $2.0 million relative to the comparative prior year period and a decrease of $3.2 million over the previous quarter. The Dissolving Pulp Segment generated operating EBITDA of $3.5 million and the Security Paper Products Segment generated operating EBITDA of $2.8 million. Corporate costs included in operating EBITDA were $2.0 million. After 36 years in the forestry industry, including nearly five years at Fortress Paper, Yvon Pelletier will be retiring from the Company effective October 1, 2017. Chadwick Wasilenkoff will re-assume the role of Chief Executive Officer and President and continue to serve as Chairman of the board. In order to facilitate a smooth transition of Mr. Pelletier’s duties and strong customer and government relationships, he has agreed to a two year consulting agreement. Click Read More below for additional detail.

January–March 2018 (1–3/2017) *Sales were EUR 1,428 million (1–3/2017: EUR 1,216 million). *Operating result was EUR 208 million (131). Comparable operating result was EUR 208 million (128). *Result before tax was EUR 185 million (130). Comparable result before tax was EUR 185 million (126). *Comparable return on capital employed was 16.6% (12.5). *Cash flow from operations was EUR 34 million (-1). Click Read More below for additional information.