Commencing in the first quarter of 2010, Fortress undertook a significant capital program to rebuild PM1 into a banknote and security papers machine. Prior to the rebuild, PM1 was utilized to produce specialty papers and low to medium security papers. The rebuilt PM1 is expected to increase the Corporation’s aggregate banknote and high security papers production capacity from the current 2,500 tonnes per annum to approximately 10,000 tonnes per annum.
Alfonso Ciotola, President of Fortress Paper, commented, "Completing this project on time and materially on budget is a credit to the experienced and skilled team at our Landqart mill. We look forward to further growing our banknote and high security papers business with the additional capacity available on the rebuilt PM1."
Having successfully completed preliminary paper production testing on the rebuilt PM1, the Corporation anticipates that PM1 will be ready for commercial banknote and high security papers production in January 2011.
