November 14, 2017
Fortress Paper Ltd. reported 3Q 2017 operating EBITDA of $0.2 million, a decrease of $7.4 million relative to the comparative prior year period and a decrease of $4.1 million over the previous quarter.
The Security Paper Products Segment generated operating EBITDA of $1.8 million, the Dissolving Pulp Segment generated operating EBITDA loss of $0.5 million, and corporate costs were $1.1 million in the 3Q 2017.
In the 4Q, management expects that there will be further adjustments to EBITDA related to the production ramp up subsequent to the FSC mill restart after the auxiliary failure and related insurance recovery accrual.
Fortress Paper operates internationally in two distinct business segments: dissolving pulp and security paper products.