Fortress Global Enterprises Inc. reported 2Q 2018 operating EBITDA from continuing operations of $2.7 million compared to operating EBITDA loss from continuing operations of $1.4 million in the previous quarter and operating EBITDA from continuing operations of $1.5 million in the prior year comparative period. 2Q 2018 sales up 17% to $50.1 million, as the company says in the press release received by Lesprom Network.
The Dissolving Pulp Segment generated operating EBITDA of $4.2 million and the Bio-Products Segment generated operating EBITDA loss of $0.5 million. Corporate costs were $1.6 million in the 2Q 2018.
Chadwick Wasilenkoff, CEO of Fortress Global Enterprises, commented: “This quarter saw significant operational progress which was offset by issues that caused more downtime than planned. We have seen steady progress on the number of digester cooks per day, the tonnes per each of these cooks, and the daily megawatts of power produced. We are confident this progress will continue into the coming quarters which should provide additional economic benefits. We remain confident that we will receive the operating permit for the fifth digester in the third quarter which will help with a step-change improvement.”
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.
