FIBREK INC 
By TSX: FBK
fibrek.com
FIBREK REACTS TO WITHDRAWAL OF SUPERIOR MERCER OFFERMONTREAL, April 30, 2012 - Fibrek Inc. ("Fibrek" or the "Company") confirmed today that Mercer International Inc. ("Mercer") has announced that it has unilaterally terminated its support agreement with Fibrek with respect to its offer to acquire all of the common shares of Fibrek.
As stated in its directors' circular dated December 26, 2012, as supplemented by the notice of change to the directors' circular dated February 6, 2012, the Board of Directors believes that the offer by AbitibiBowater Inc. (doing business as Resolute Forest Products) ("Abitibi") significantly undervalues the common shares of Fibrek, which have, as at February 3, 2012, been valued at $1.25 to $1.45 by Canaccord Genuity Corp.
As a result of the termination of the Mercer support agreement, Mercer has instructed Computershare Investor Services Inc., the depository for the offer, to promptly return all common shares of Fibrek tendered thereunder.
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 coate d 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, actions taken by shareholders
of Fibrek in respect of Abitibi's unsolicited offer, the
possible effect of Abitibi's unsolicited 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: Lyla Radmanovich 514 843-2336
NATIONAL Public Relations
Dany Paradis 514 871-0550
Vice President, Change Management and Supply Chain
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