Manufacturing AUTOMATION

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Fortress Paper selling Quebec mill site for $15.4M


June 24, 2016
By Manufacturing AUTOMATION

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Jun. 24, 2016 – Fortress Paper has announced it is selling its Lebel-sur-Quévillon pulp mill and sawmill assets for $15.36 million to Nexolia Bioenergy Inc., a private company focused on investing in natural resources, renewable energy and other projects.

“The sale of the LSQ Mill represents a divestiture of a non-core asset which will release the Company from a number of future obligations and allow it to focus on other value enhancing transactions to grow its business,” said Yvon Pelletier, president and CEO of Fortress Paper.

Fortress Paper says the transaction is expected to close by July 8, 2016. The business operates internationally in two distinct business segments: dissolving pulp at the Fortress Specialty Cellulose Mill located in Canada, and security paper products at the Landqart Mill located in Switzerland.