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Fortress Paper gets breathing room from Quebec for $102-million loan

Fortress Paper CEO Chad Wasilenkoff is pictured; the Quebec government has approved changes to the terms of its $102.4-million loan to Fortress Paper. Graham Hughes/The Canadian Press

MONTREAL — Fortress Paper has secured some breathing room amid low dissolving pulp prices after the Quebec government approved changes to the terms of its $102.4-million loan that include the deferral of interest and principal payments until 2017.

The company said the changes provide increased financial flexibility for its mill in Thurso, Que.

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