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Enter Symbol
or Name
USA
CA



Fortress Paper Ltd
Symbol FTP
Shares Issued 14,323,184
Close 2017-06-08 C$ 6.69
Market Cap C$ 95,822,101
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Fortress to provide Durasafe to Bahamas Central Bank

2017-06-08 17:18 ET - News Release

An anonymous director reports

FORTRESS ANNOUNCES NEW DURASAFE BANKNOTE CUSTOMER

The Central Bank of the Bahamas has chosen to use Durasafe, the proprietary banknote substrate of Fortress Paper Ltd.'s wholly owned subsidiary, Landqart AG, for the two highest-denomination banknotes of its Crisp Evolution series. The company expects that Landqart will commence shipments in 2018.

Axel Wappler, chief executive officer of Landqart, commented: "The choice of Durasafe by the Central Bank of the Bahamas for its high-denomination banknotes reflects the desire of this Central Bank to be at the forefront of currency technology and design, and underscores the superior capabilities of the Durasafe substrate. We are delighted to have secured another customer for Durasafe as we continue to expand our market share. With the announcement in March of Durasafe shipments for a new customer in 2017, the Swiss 20-franc note entering circulation in May and the Swiss 50-franc note winning two prestigious, international awards, we are building good momentum for this product."

Durasafe is an innovative composite paper-polymer-paper banknote substrate developed by Landqart in co-operation with the Swiss Federal Institute of Technology (ETH) Zurich. Durasafe is composed of two cotton paper outer layers with a fully transparent polymer core. The polymer core in Durasafe adds stability and higher mechanical strength properties to banknotes as well as high security features. The substrate's unique properties allow windows to be formed virtually anywhere on the banknote, and can contain a watermark and security fibres as well as traditional security features, including easy-to-recognize banknote paper tactility.

About Fortress Paper Ltd.

Fortress Paper operates internationally in two distinct business segments: dissolving pulp and security paper products. The company operates its dissolving pulp business at the Fortress specialty cellulose mill located in Canada, which has expanded into the renewable energy generation sector with the construction of a cogeneration facility. The company operates its security paper products business at the Landqart mill located in Switzerland, where it produces banknote, passport, visa, and other brand protection and security papers.

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