VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 12/01/15 -- Fortress Paper Ltd. ("Fortress Paper" or the "Company") (TSX: FTP) is pleased to announce that the National Bank of Kazakhstan will issue the 20,000 Tenge note as legal tender in Kazakhstan commencing December 1, 2015. Fortress Paper is the proud supplier of the Durasafe® high performance banknote substrate used for this note, manufactured at its Landqart Mill in Switzerland.
Yvon Pelletier, Chief Executive Officer of Fortress Paper, commented: "The National Bank of Kazakhstan's decision to issue the 20,000 Tenge note on Durasafe® for use as legal tender further validates the commercial viability of the substrate. We believe that the commercial release of Durasafe® notes in Kazakhstan will create further interest for the banknote substrate from other national banks worldwide."
Durasafe® is an innovative composite paper-polymer-paper banknote substrate developed by the Company's Swiss security paper manufacturer, Landqart AG, in cooperation 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, and maintains the easy to recognise tactility of banknote paper.
About Fortress Paper
Fortress Paper operates internationally in two distinct business segments: dissolving pulp and security paper products. The Company operates its dissolving pulp business at the FSC 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.
This press release contains certain forward-looking statements that reflect the current views and/or expectations of Fortress Paper with respect to growth and future prospects for our security paper products business. The reader is cautioned that forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other factors which are difficult to predict and that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Assumptions underlying the Company's expectations regarding forward-looking statements contained in this news release include, among others: that we will be able to effectively market our security paper products; that the Landqart Mill will secure new orders; and that our equipment will operate at expected levels. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, that market conditions for security paper products will be unfavourable, that there will be unforeseen disruptions to production and delivery at the Landqart Mill, and that the Company will be unable to effectively market its security paper products. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements, which are qualified in their entirety by this cautionary statement. Fortress Paper does not undertake any obligations to release publicly any revisions for updating any voluntary forward looking statements, except as required by applicable securities law.
Contacts:
Fortress Paper Ltd.
604-904-2328
info@fortresspaper.com
