Pierre Côté Named Chief Executive of SFK Pulp
April 18, 2008 - SFK Pulp Fund announced today the appointment of Pierre Gabriel Côté to the position of president and CEO of SFK Pulp, effective July 21, 2008.
"On behalf of the Board of directors of SFK Pulp, I am pleased to welcome back Mr. Côté, formerly a director and trustee of SFK Pulp, to our organization. Pierre was, from the start, our preferred candidate as we sought an executive capable of effecting change within SFK," said Hubert T. Lacroix, chairman of SFK Pulp.
Côté has been president of Bombardier, Business Aircraft since July 2006. His prior business experience includes more than 20 years of service in the pulp and paper industry in various positions, including as executive vice president, Tissue and Containerboard of Kruger Inc., senior vice president, International Operations and Energy of Abitibi-Consolidated Inc. (now Abitibi-Bowater Inc.) and vice president of US Operations of Donohue Inc. He was also president and CEO of Rogers Sugar Income Fund from October 2001 to July 2005 and is therefore familiar with the income fund structure.
Until Mr. Côté assumes his role with SFK Pulp on July 21, 2008, the structure announced on March 31, 2008 remains in place as Dino Fuoco, Director since the creation of SFK Pulp in August 2002, and Paul Bourque, the current Chief Financial Officer of SFK Pulp, continue to act as interim Co-Presidents and Chief Executive Officers.
Côté will also be one of the proposed nominees standing for election as trustees of SFK Pulp Trust and directors and SFK Holding Inc. at the next annual meeting of unitholders to be held on Friday, May 16, 2008.
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.
SOURCE: SFK Pulp Fund