LONGUEUIL, QC, March 31 /CNW Telbec/ - SFK Pulp Fund (TSX: SFK.UN)
announces that SFK Pulp and André Bernier have come to a mutual agreement
resulting in André Bernier's employment as President and Chief Executive
Officer terminating effective immediately.
"The Board appreciates and thanks André Bernier for his contribution to
the growth and development of SFK Pulp over the last six years. Considering
the evolution of the business and our challenges at this point, the Board
believes that SFK Pulp is at a stage of its strategic development where it
would benefit from new leadership. On behalf of the Board, we wish André
success in his future endeavours" said Hubert T. Lacroix, Chairman of the
The Board has asked Dino Fuoco, Chairman of the Audit and Strategic
Planning Committees and Director since the creation of SFK Pulp in August
2002, to join Paul Bourque, the current Chief Financial Officer of SFK Pulp,
and act as interim Co-President and Chief Executive Officers pending the
appointment of a new President and Chief Executive Officer. Mr. Fuoco's past
business experience includes acting for six years as Executive Vice-President
and Chief Financial Officer and Administration of Alliance Forest Products.
The Board also announces that Georges Kobrynsky, Senior Vice-President,
Investments, Forest Products of the Société générale de financement du Québec
will be suggested to the unitholders as a Director and Trustee at SFK Pulp's
Annual General Meeting on May 16, 2008. In anticipation of him joining the
Board and to ensure that Mr. Kobrynsky would be able to immediately contribute
to SFK Pulp should the unitholders approve his election, Mr. Kobrynsky was
asked, in October 2007, to start attending, as an observer and on a
confidential basis, meetings of the Board. Mr. Kobrynsky has held various
senior positions during his 30-year career with Domtar Inc.
"Our Board felt that it needed to fill the gap in industry operations
knowledge left by the departure of Denis Jean and Pierre Côté over the last
two years. We are thus extremely pleased that Mr. Kobrynsky has accepted to
stand for election at our next annual meeting. Had we been a corporation, Mr.
Kobrynsky would have been invited to join the Board in mid-year.
Unfortunately, our trust structure does not allow us to add Directors or
Trustees in this way; hence the observer status given to Mr. Kobrynsky since
October" said Hubert T. Lacroix, Chairman of the Board.
Mr. Kobrynsky will be available to support the work of Messrs. Fuoco and
Bourque during the interim period. Mr. Fuoco and Mr. Kobrynsky have already
advised the Board that they have no interest in pursuing the full-time
position of President and Chief Executive Officer of SFK Pulp.
The Board of Directors, through its Corporate Governance and Human
Resources Committee, is immediately launching a recruitment process to select
a candidate for the position of President and Chief Executive Officer and will
SFK Pulp operates, through its subsidiaries, the Saint-Félicien Mill, the
Fairmont Mill and the Menominee Mill (with a total annual production capacity
of 735,000 metric tonnes) and employs approximately 550 people. The
Saint-Félicien Mill (located in Saint-Félicien, Québec, approximately 450
kilometres north of Montréal) has an annual production capacity of 375,000
metric tonnes of NBSK pulp and supplies NBSK pulp to various sectors of the
paper industry in Canada, the United States and in Europe for use in
speciality products. The Fairmont Mill (located in Fairmont, West Virginia)
and the Menominee Mill (located in Menominee, Michigan), with a combined
annual production capacity of 360,000 metric tonnes, both manufacture
air-dried market recycled bleached kraft (RBK) pulp and primarily supply RBK
pulp to manufacturers of uncoated freesheet, commercial and away-from-home
tissue and coated paper in the United States.
%SEDAR: 00018041EF c8557
For further information:
For further information: Paul Bourque, Chief Financial Officer and
Co-President and Chief Executive Officer by interim, (450) 677-7857 ext.