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BRIEF-Fortress Paper provides operational update on its Landqart Mill
November 2, 2017 / 1:42 PM / 20 days ago

BRIEF-Fortress Paper provides operational update on its Landqart Mill

Nov 2 (Reuters) - Fortress Paper Ltd

* Fortress Paper provides operational update on its Landqart Mill

* Fortress Paper-‍unit got notices from 1 customer cancelling portion of purchase orders scheduled for production & delivery in Q4 2017 & in fiscal 2018​

* Fortress Paper - ‍cancelled purchase orders represent about 16 percent of budgeted order book at Landqart Mill for fiscal 2017 and 30 percent for fiscal 2018​

* Fortress - ‍expect Q4 revenue will be negatively impacted as decline in anticipated production volume is unlikely to be entirely replaced in short term​

* Fortress Paper-‍unit continues dialogue with customer to reinstate all/portion of cancelled orders over extended period of time within fiscal 2018​

* Fortress Paper Ltd- ‍reduced banknote production in Q4 will also have an impact on revenues and results in Q1 of 2018​ Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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