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Fortress Global considering financing alternatives

August 22, 2019
By P&PC staff


After a 10-year low in dissolving pulp prices, the board of directors at Fortress Global Enterprises has formed a strategic committee to consider strategic and financing alternatives for the company.

According to a release, those options include a recapitalization, restructuring and/or business combination transaction. Houlihan Lokey Capital will act as the company’s financial advisor.

Fortress Global has not announced a schedule for the evaluation, which is not guaranteed to result in action. The company will only reveal further developments if they fall under its continuous disclosure requirements.

Fortress Global operates its dissolving pulp business at the Fortress Specialty Cellulose mill located in Thurso, Quebec, which also operates in the renewable energy generation sector through its cogeneration facility. The company’s bioproducts business operates through Fortress Advanced Bioproducts, which has laboratory and pilot plant facilities in Vancouver.