TSX: FBK
fibrek.com
FIBREK PROVIDES UPDATE ON SHAREHOLDER RIGHTS PLANMONTREAL, February 14, 2012 - Fibrek Inc. ("Fibrek" or the "Corporation") announced today that, in light of the decision of the Bureau de décision et de révision (Québec) on February 9, 2012, to issue a cease trade order with respect to Fibrek's shareholder rights plan adopted on December 19, 2011 (the "Plan"), the Toronto Stock Exchange ("TSX") has determined to reject and not to approve the Plan for filing.
The Board of Directors continues to unanimously recommend that shareholders ACCEPTand TENDERtheir common shares to the offer made by Mercer International Inc. to acquire all of the issued and outstanding common shares of Fibrek by way of take-over bid and to REJECTand NOT TENDERtheir common shares to the unsolicited offer made by AbitibiBowater Inc.
For more information on how to tender Fibrek Common Shares or for any other inquiries regarding the Mercer Offer, please contact Fibrek's information agent, Phoenix Advisory Partners, at 1-800-398-1129 (North American Toll Free) or via email at inquiries@phoenixadvisorypartners.com.
About Fibrek
Fibrek (TSX: FBK) is a leading producer and marketer of high-quality virgin and recycled kraft pulp. The company 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. Fibrek has approximately 500 employees. The Saint-Félicien mill provides northern bleached softwood kraft pulp (product known as NBSK pulp) to various sectors of the paper industry mainly 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, tissue paper for commercial and industrial uses, and coated paper in the United States.
Forward-Looking Statements
This press release contains "forward-looking
statements" within the meaning of applicable securities
laws. These statements can be identified by expressions of
belief, expectation or intention, as well as those statements
that are not historical facts and include statements
concerning Fibrek's future outlook, business strategy,
plans, expectations, results or actions, or the assumptions
underlying any of the foregoing. Forward-looking statements
can generally be identified by words such as "may",
"should", "would", "could",
"will", "intend", "plan",
"anticipate", "believe",
"estimate", "expect", "outlook"
and similar expressions. These statements are based on
information currently available to Fibrek's management
and on the current assumptions, intentions, plans,
expectations and estimates of Management regarding
Fibrek's future growth, results of operations,
performance, business prospects and opportunities and ability
to attract and retain customers as well as the economic
environment in which it operates. Forward- looking statements
are subject to known and unknown risks, uncertainties and
other factors which could cause actual results of Fibrek to
differ materially from the conclusion, forecast or projection
stated in such forward-looking statements. These risks,
uncertainties and other factors include, but are not limited
to: actions taken by Abitibi or Mercer, actions taken by
shareholders of Fibrek in respect of Abitibi's
unsolicited offer and the Mercer Offer, the possible effect
of Abitibi's unsolicited offer and the Mercer Offer on
Fibrek's business, the award of a power purchase
agreement to Fibrek under the new Québec Government
cogeneration program, general economic conditions, pulp
prices and sales volume, exchange rate fluctuations, cost and
supply of wood fibre, wastepaper and other raw materials,
pension contributions, competitive markets, dependence upon
key customers, increased production capacity, equipment
failure, disruptions of production, capital requirements and
other factors referenced in Fibrek's continuous
disclosure filings which are available on SEDAR at
www.sedar.com. Readers should not place undue reliance on
these forward-looking statements. These forward-looking
statements are made as of the date of this press release and,
except as required by applicable securities laws, Fibrek
assumes no obligation to update or revise them to reflect new
events or circumstances.
Investor Relations: Patsie Ducharme 514 871-0550
Vice President and Chief Financial Officer
Media Relations: Roch Landriault 514 843-2345
NATIONAL Public Relations
Dany Paradis 514 871-0550
Vice President, Change Management and Supply Chain
distribué par | Ce noodl a été diffusé par Fibrek Inc. et initialement mise en ligne sur le site http://www.fibrek.ca. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-02-15 21:15:37 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
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