Fortress Paper names Axel Wappler new CEO of its security paper products business that operates through the Landqart, Switzerland, mill, effective July 1; he replaces Alfonso Ciotola, who will continue to provide services to the company
VANCOUVER, British Columbia
June 19, 2013
– Fortress Paper Ltd. (TSX:FTP) ("Fortress Paper" or the "Corporation") is pleased to announce the appointment of Axel Wappler as Chief Executive Officer of its security paper products business, effective July 1, 2013.
Mr. Wappler has over 25 years of international experience in the paper and manufacturing industries, with leadership roles in operations, sales and executive management. Prior to joining Fortress Paper, Mr. Wappler served as a member of the Executive Board and General Manager of Global Marketing and Sales for Omya Management AG, a leading global producer of industrial minerals and distributor of chemical products, and the Chief Executive Officer of Cham Paper Group, a Swiss developer, producer and distributor of coated specialty papers where Mr. Wappler improved profitability.
Mr. Wappler's role will include leading Fortress Paper's security paper products business which operates through the Landqart Mill. Mr. Wappler replaces Alfonso Ciotola, who will continue providing services to the Corporation.
Chadwick Wasilenkoff, Chief Executive Officer of Fortress Paper commented: "We are extremely pleased to have Axel Wappler join our team. Axel has a demonstrated track record of developing new markets and driving growth for a variety of businesses. We believe that Axel will provide strategic leadership to our security paper products business and possesses the skills and experience to advance our business objectives at Landqart. His experience in providing effective management solutions and expanding business in key international markets will be a significant benefit to the Landqart Mill.
We would like to thank Dr. Alfonso Ciotola for his leadership over the past six years in growing both our security paper products business and specialty papers business, the latter of which was recently sold. We are pleased to continue our relationship with Alfonso and are fortunate to retain his knowledge and experience developed over 40 years in the paper industry. We look forward to his continuing insight and appreciate his pro-active efforts to find a new Chief Executive Officer to succeed him in our security paper products business."
About Fortress Paper
Fortress Paper operates internationally in two distinct business segments: dissolving pulp and security paper products. The Corporation operates its dissolving pulp business at the Fortress Specialty Cellulose Mill located in Canada, which is also in the process of expanding into the renewable energy generation sector with the construction of a cogeneration facility. The Corporation is also seeking to expand its dissolving pulp capacity with the recent acquisition of the Fortress Global Cellulose Mill located at Lebel-sur-Quévillon, Québec, which the Corporation is evaluating to convert into a dissolving pulp mill and re-start the cogeneration facility.
The Corporation 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, and at its high security production and research facility located in Canada, where it manufacturers optically variable thin film material.