Fortress Global Enterprises Inc. reported 3Q 2018 operating EBITDA from continuing operations of $7.5 million compared to operating EBITDA from continuing operations of $2.7 million in the previous quarter and operating EBITDA loss from continuing operations of $1.6 million in the prior year comparative period. 3Q 2018 sales from continuing operations increased to $48.7 million, compared to $35.3 million in the 3Q 2017, as the company said in the press release received by Lesprom Network.
The Dissolving Pulp Segment generated operating EBITDA of $9 million and the Bio-Products Segment generated operating EBITDA loss of $0.4 million. Corporate costs were $1.1 million in the 3Q 2018.
Chadwick Wasilenkoff, CEO of Fortress Global Enterprises, commented: “This quarter saw significant operational progress with improving production throughout the quarter. Debottlenecking in the evaporator/concentrator section of the mill proved successful and has shown indicative signs that the mill’s operations have more room for improvement. We received the fifth digester operating permit and expect the digester to have a positive impact on the 4Q operations. The 4Q shut was successfully completed on schedule with the previously announced 50% reduction in downtime and slightly under budget.”
Fortress Global Enterprises operates its dissolving pulp business at the Fortress Specialty Cellulose mill located in Canada, which also operates in the renewable energy generation sector through its cogeneration facility.
