Fortress Global Enterprises Inc - Class A FTPLF

Fortress Mill vital for entire Outaouais forest industry....

[sculpin2]

Fortress Mill vital for entire Outaouais forest industry....
https://www.woodbusiness.ca/quebec-hardwood-flooring-company-shuts-down-logging-operations/

Optimistic to find taker

Fitzgibbon, who says he received Fortress Global's case on his desk six months ago, said he is optimistic that an investor will come forward by the end of November. 

The process of finding a buyer is under way and "people" in the industry have already shown interest, the minister said. 

Despite the vagaries of the market driven by the dispute between the United States and China, Fortress Global is well positioned and its "industrial environment" is not unfavorable, said the latter. The difference between the selling price and the cost of producing the ton of dissolving pulp is about $ 100 right now.

"When you look at the difference between the sales price and the cashcost , it's $ 100. It's not a lot. We look at the global ecosystem of rayon. People think that there is 3% to 4% growth coming in the world. We look at the factory closures that are more expensive than Fortress, if we put it all together, I think we can be relatively comfortable (and say) that this is a temporary situation. They are not financiers who will buy that. It takes strategic (investors) who will understand the ecosystem and I think there is a good price at which the plant can be purchased. The price paid is less important for me than the quality of the buyer who ensures sustainability. I do not want to make a promise, but I'm confident we'll find someone. "

The president and CEO of the company, Giovanni Iadeluca, said his "confidence" that the company would be relaunched exceeded that of Minister Fitzgibbon.

https://www.ledroit.com/affaires/quebec-accorde-un-pret-de-8-m-pour-lusine-fortress-de-thurso-c286e48bc0c0fffc1f104a7f1aaf2013

Could be relief coming on the supply side to lower FGE's input costs....

"We can talk about China, the United States and all that (for Fortress), we have zero control over it. When the new forest regime arrived in 2013, mill supply costs were expected to drop by $ 2 per cubic meter. The opposite has occurred. It increased by $ 30 per cubic meter. When someone coughs today in the forest industry, everyone gets the flu. It's unthinkable to continue like this. We are thinking of relaunching a paper mill and bringing an investor here (for Fortress), but an investor, the first thing he looks at is: "Do I have the supply for my factory and how much it costs me? "With the forest regime that we have here in the Outaouais, that's unthinkable," Lauzon said.
https://www.ledroit.com/affaires/crise-forestiere-en-outaouais-des-elus-reclament-lintervention-de-quebec-7d209e0aec998f00782ef261ce299924