TSX : FBK
LONGUEUIL, QC, Feb. 28 /CNW Telbec/ - Fibrek Inc. (TSX: FBK), a leading
producer and marketer of high-quality virgin and recycled kraft pulp,
today completed the previously announced partial redemption of its 7%
convertible unsecured subordinated debentures maturing on December 31,
2011 (the "Debentures") for an aggregate principal amount of
$25,874,000. Fibrek paid to the holders of redeemed Debentures a
redemption price (the "Redemption Price") equal to the principal amount
of the redeemed Debentures, plus accrued and unpaid interest up to but
excluding the redemption date, for a total of $26,161,719. Debentures
in an aggregate principal amount of $25,875,000 remain outstanding
following the redemption. Fibrek used available funds to pay the
Redemption Price of the redeemed Debentures.
Fibrek (TSX: FBK) is a leading producer and marketer of high-quality
virgin and recycled kraft pulp. The Company has approximately 500
employees and operates three mills located in Saint-Félicien, Québec,
Fairmont, West Virginia, and in Menominee, Michigan with a combined
annual production capacity of 760,000 tonnes. The Saint-Félicien mill
provides northern bleached softwood kraft pulp (product known as NBSK
pulp) to various sectors of the paper industry in Canada, the United
States and Europe, for use in the production of specialized products.
The Fairmont and Menominee mills manufacture air-dried recycled
bleached kraft pulp (product known as RBK pulp) and primarily supply
manufacturers of fine uncoated paper, household paper for commercial
and industrial uses, and coated paper in the United States.
SOURCE FIBREK INC.
For further information:
|Investor Relations: ||Patsie Ducharme ||(450) 442-8884|
| ||Vice President and Chief Financial Officer|
| || |
|Media Relations: ||Dany Paradis ||(450) 442-8882|
| ||Vice President, Change Management and Supply Chain|