Rayonier CEO to Provide Update on Planned Spin-Off of Rayonier Advanced Materials
JACKSONVILLE, Fla.--(BUSINESS WIRE)-- Rayonier (RYN) chairman, president and CEO, Paul Boynton, will provide an update on the planned spin-off of Rayoniers Performance Fibers business, to be known as Rayonier Advanced Materials upon separation. The live webcast will be held on Wednesday, June 11, 2014, at 7:00 a.m. EDT.
As a foundation for investor meetings over the next two weeks and prior to the target separation date of June 27, Mr. Boynton will discuss recent progress on the separation, including the completion of the Rayonier Advanced Materials management team and board, its capital structure and planned dividend, and the companys strategic direction. Interested parties are invited to listen by logging onto www.rayonier.com and following the link.
Rayonier is a leading international forest products company with three core businesses: Forest Resources, Real Estate and Performance Fibers. The company owns, leases or manages 2.6 million acres of timber and land in the United States and New Zealand. The company's holdings include approximately 200,000 acres with residential and commercial development potential along the Interstate 95 corridor between Savannah, Ga., and Daytona Beach, Fla. Its Performance Fibers business is one of the world's leading producers of high-value specialty cellulose fibers, which are used in products such as filters, pharmaceuticals and LCD screens. Approximately 50 percent of the company's sales are outside the U.S. to customers in approximately 20 countries. Rayonier is structured as a real estate investment trust. More information is available at www.rayonier.com.
Beth Johnson, 904-357-9136
Russell Schweiss, 904-357-9158
Source: RayonierCopyright Business Wire 2014