rayonier
rayonier 10 - k filing for 2017. rayonier inc. , february 23, 2018. retrieved february 24, 2018
in may 2014, rayonier named david l. nunes as post - separation president and ceo for rayonier. [ 9 ]
in june 2014, rayonier spun off its performance fibers business into an independent, publicly traded company, rayonier advanced materials inc. (nyse: ryam). [ 12 ] [ 13 ] shareholders of rayonier received one share of the new rayonier advanced materials company for every three shares of rayonier on june 27, 2014. [ 1 ] [ 14 ]
principal subsidiaries: rayonier timberlands, l. p. (rtlp); rayonier forest resources company; southern wood piedmont company (swp) .
. as world war ii ended, rayonier began making large land purchases in the pacific northwest. the rayonier foundation was created in 1952 to provide assistance to charitable, civic and education organizations in the communities where rayonier did business .
rayonier separates its land resources businesses from its performance fibers business, creating two independent, publicly traded companies. the performance fibers business becomes known as rayonier advanced materials
rayonier advanced materials is the leading global supplier of high - purity cellulose products .
following the separation, richard kincaid, director, will become chairman of rayonier inc .
rayonier is quite a small company, with a market capitalization of $ 585 million .
jacksonville, fla. - - (business wire) - - may 12, 2014 - - rayonier (nyse: ryn) today announced the appointment of david l. nunes as chief operating officer. upon rayonier’s previously announced mid - year separation, nunes will assume the role of president and ceo of rayonier and paul boynton, rayonier’s current chairman, president and ceo, will become chairman, president and ceo of rayonier advanced materials .
why is rayonier (ryn) up 3. 9% since its last earnings report ?
why is rayonier (ryn) up 10. 5% since its last earnings report ?
rayonier benefits not just from the quality of its balance sheet, but from the composition .
our strong track record of execution creates value for our shareholders and positions rayonier as a strong, stable employer. there are more than 300 employees in the rayonier family, each sharing our
rayonier advanced materials makes everyday products possible—from cell phones and computer screens, to eyeglasses and medicine .
to get more information on rayonier' s total segment. select each division with the arrow .
nunes will join rayonier inc. on june 9 as chief operating officer and will play a key role in finalizing the separation of the company. upon completion of the separation, he will assume responsibility for the leadership of rayonier inc. as previously announced, rayonier’s performance fibers division will become rayonier advanced materials; an independent company initially focused on the production of high - purity cellulose specialty products .
rayonier advanced materials’ chemical products – resins and lignosulfonates – are supported by a dedicated technical sales team .
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to get more information on rayonier advanced materials' s total segment. select each division with the arrow .
veteran timberland executive will serve as coo of rayonier inc. until its upcoming separation into two industry - leading companies
rayonier advanced materials manufactures newsprint for publishers of daily newspapers and commercial printers, as well as controlled bulk paper .
focus on: rayonier inc. ,
hartford courant, april 10, 1998, p. d2 .
you may not think of timberlands as reit - owned real estate, but that' s exactly what rayonier does .
etfs holding ryn | rayonier inc. | etf channel | urltoken | copyright © 2009 - 2018, all rights reserved
news release, exhibit 99. 1. rayonier inc. , february 7, 2018, retrieved february 21, 2018
rayonier is aiming to become a much larger and diversified business, fueling this growth by internal and external investment ideas .
rayonier’s business has been under pressure recently due to flat demand for acetate products, a supply / demand imbalance in its major product categories, and the strong u. s. dollar lowering the expense of rayonier’s more internationally - focused competitors .
“this is an exciting time to join rayonier and i’m honored to accept this opportunity, ” nunes said. “rayonier is an industry leader with top talent and an outstanding timberland portfolio serving u. s. and pacific rim markets. coupled with the best hbu portfolio in the industry, rayonier is well positioned to capitalize on the rebounding economy and housing markets. rayonier’s unique combination of assets and talent will ensure that we continue the company’s long history of delivering value to our shareholders. ”
rayonier inc. plans to release its first quarter 2018 earnings after the market closes on wednesday, may 2, 2018 .
fairfax financial owns 35, 000 shares of rayonier advanced materials inc. with a market value of $ 541, 000 .
the company was spun off in the summer of 2014 from rayonier (ryn), a timber real estate investment trust .
rayonier operates high on the value chain of the pulp and paper industry, which is known as the cellulose specialties industry .
rayonier inc. today reported first quarter net income attributable to rayonier of $ 40. 5 million, or $ 0. 31 per share, on revenues of $ 203. 2 million. this compares to net income attributable to rayonier of $ 33. 8 million, or $ 0. 27 per share, on revenues of $ 194. 5 million in the prior year quarter .
rayonier opened international sales offices in europe and asia during 1954. that same year, another pulp mill in the southeast was constructed at
by 1945 rayonier had begun making major timberland purchases in the west. the company founded the rayonier foundation in 1952 to provide charitable contributions to civic, educational, and charitable causes in local communities. in 1954 a second southwest pulp mill opened in jesup, georgia. that same year, the company opened offices in europe and asia. in 1968 rayonier became itt rayonier, a wholly owned subsidiary of itt corporation, a major international conglomerate. by 1971 further expansion of the jesup mill made it the largest facility of its kind in the world .
the company’s financial metrics are proportionally small. rayonier generated $ 869 million of revenue in 2016, with operating income of $ 138 million .
while rayonier advanced materials might seem like an absolute bargain based on fundamental valuation metrics, keep in mind that the company has destroyed a substantial amount of shareholder value since its spin off. further, rayonier is a small cap stock and has more inherent risk as a result .
offering hunting properties from 20 acres to 20, 000 acres across the united states, the rayonier hunting and recreation program was designed with you in mind. whether you’re looking for a place to hunt, fish or just enjoy the great outdoors, rayonier hunting has the perfect spot for you. chat with local representatives today who know the rayonier lands and will work with you to find a hunting property that’s just right .
“dave will provide strong leadership and direction to the new rayonier, ” said boynton. “with 30 years of industry experience, he will continue rayonier’s long legacy of growing shareholder value and provide strategic direction to one of the best teams of timber and real estate professionals in our industry. ”
rayonier inc. investors mark mchugh, 904 - 357 - 3757 or media roseann wentworth, 904 - 357 - 9185 roseann. wentworth @ urltoken
working closely with our customers in 20 countries, rayonier advanced materials creates one - of - a - kind cellulose specialties products from renewable resources .
the company was spun off from itt in 1994 with the company name reverting to rayonier and shares again traded on the new york stock exchange .
rayonier has come a long way from its beginnings as the rainier pulp and paper co. in the pacific northwest, but timber remains the foundation of the company’s business. today, rayonier is a leading international forest products company with three core businesses: timber, real estate and performance fibers .
if you are looking for a strong, stable company that provides an opportunity to excel while you grow your skills, consider a position with rayonier .
rayonier (ryn) could be an interesting play for investors as it is seeing solid earnings estimate revision in addition to having a robust industry rank .
rayonier' s (ryn) timber segments benefit from elevated sawtimber prices and increase in harvest volume. however, lower liquidity position remains a headwind .
the zacks analyst thinks that improving performance in the pacific northwest and new zealand timber segment will enable rayonier (ryn) to enjoy better pricing power .
in addition to the numerous environmental concerns facing rayonier, it also was named as a defendant in a 1997 georgia lawsuit brought by powell - duffryn terminals. rayonier had stored a pulp manufacturing byproduct (crude sulfate turpentine) at one of powell - duffryn' s marine terminals and storage facilities, and a major fire and explosion caused extensive damage. as a result, damages of $ 57 million were being sought against rayonier and the other defendant .
rayonier (ryn) reported earnings 30 days ago. what' s next for the stock? we take a look at earnings estimates for some clues .
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rayonier advanced materials acquires tembec, creating a diversified global leader in high - purity cellulose, packaging, paper, high - yield pulp and forest products .
rayonier is a timberland real estate investment trust with assets located in some of the most productive timber growing regions in the u. s. and new zealand. rayonier owns, leases or manages acres of timberlands located in the u. s. south, u. s. pacific northwest and new zealand .
company begins public trading on the new york stock exchange after three mills in washington merge to form rayonier, a combination of the words rayon and mt. rainier
make an impact at rayonier from day one. join a company that' s big enough to achieve big things, yet small enough to challenge and recognize high performers .
rayonier advanced materials’ technical sales team works closely with customers worldwide to define needs, and we tailor our high - yield hardwood pulp manufacturing process to meet precise customer specifications .
rayonier is subject to many state and federal environmental laws and regulations, affecting its handling of air emissions, water discharges, and waste disposal. its operations also have been greatly influenced by federal laws governing the cutting of timber, particularly the endangered species act. rayonier claims to have spent over $ 100 million in the 1990s for voluntary and required environmental measures. much of rayonier' s timberland in washington is home to presently endangered species such as the northern spotted owl and the marbled murrelet, as well as several varieties of salmon. as a result, there have been ongoing negotiations and more heated interactions involving rayonier, the environmental protection agency (epa) and state agencies, and environmental groups .
rayonier advanced materials believes that its acquisition of tembec is in the best interests of both companies and their shareholders and reaffirms its commitment to acquire tembec on the previously announced terms .
rayonier converted to a real estate investment trust (reit) on january 1, 2004. [ 6 ] terrapointe llc was established in 2005 to manage properties with development potential .
rayonier inc. is at a 52 - week high, but can investors hope for more gains in the future? we take a look at the fundamentals for ryn for clues .
a log - trading office was opened in new zealand during 1988. the new zealand government sold rayonier 250, 000 acres (1, 000 km 2) of timberland in 1992 .
in august 2017, rayonier consolidated its corporate headquarters, real estate, and forest resources offices into a newly constructed, state - of - the - art building in wildlight, florida .
further, i would argue that if rayonier’s earnings decline by more than a factor of 6. 7, then investors have much more to be worried about than the repayment of debt .
jacksonville, fla. - - (business wire) - - jul. 17, 2017 - - rayonier advanced materials inc. (the “company” or “ rayonier advanced materials”) (nyse: ryam) today reaffirmed its commitment to acquire tembec inc. (“tembec”) (tsx: tmb) on the terms previously agreed with tembec. the company believes that the previously announced arrangement consideration of c $ 4. 05 in cash or 0. 2302 of a share of rayonier advanced materials common stock per tembec common share—which is subject to proration so that approximately 63% of the aggregate consideration is paid in cash and 37% is paid in rayonier advanced materials stock—provides compelling value to tembec shareholders. the company does not intend to increase the consideration offered to tembec shareholders .
in august 2015, rayonier announced its ownership in the new zealand joint venture will increase from 65% to approximately 77% , as part of an anticipated recapitalization of the jv. [ 15 ]
other environmental problems also faced rayonier in the 1990s. for example, in 1994 its former wholly owned subsidiary, southern wood piedmont company (swp), was named as a potentially responsible party (prp) under the epa' s comprehensive environmental response compensation and liability act (cercla), based on coal tar derivative deposits found in tennessee' s chattanooga creek. swp had ceased operations in 1986, but rayonier would remain liable for its actions. according to rayonier' s 1997 annual report, it was designated as a prp or the state equivalent in eight separate federal and state actions .
this strategy proved immensely successful. by 1937, the rainier company merged with two other mills in washington, to form rayonier incorporated. this name was a combination of
rayon
and
rainier ,
the mountain visible from the original shelton mill. rayonier immediately became the largest rayon pulp manufacturer in the world, and was listed as a publicly traded company on the new york stock exchange .
historical daily stock prices for rayonier since 1994 adjusted for splits and dividends. open, high, low, close (ohlc) data as well as percentage changes for multiple date ranges. display 20, 50 and 200 day moving averages and export charts as images to use in articles and blogs. the latest closing price for rayonier (ryn) as of july 06, 2018 is 39. 41 .
diplomatic relations with china were restored in 1979. the following year, rayonier received orders for pulp and logs. it took almost five years to receive permission to open an office in beijing in 1985 .
in the later 1990s, however, rayonier' s international operations became less profitable, particularly as the asian economies became less stable. in 1996, the share of sales outside of the united states dropped to 55 percent; in 1997 they decreased even more, to only 49 percent. nevertheless, rayonier had great hopes for expanding its business in the two most populous countries in asia, china, and india. these developing markets carried unique challenges, with delivery technology often not matching the demand for products. as described by dennis snyder, a rayonier vice - president, in the journal of commerce, when rayonier began to ship fluff pulp to china in the late 1980s, chinese ports lacked the equipment needed to handle the packages of this product. it had to be broken into individual rolls that could be handled manually .
rayonier inc (nyse: ryn), a reits company based in united states, saw a decent share price growth in the teens level on the nyse over the last few months. with manyread more ...
rayonier inc. is an international leader in the forest products industry, operating in more than 70 countries. the company manages 1. 5 million acres of timberland in the united states and new zealand, which provide the raw material for its products. it also operates two pulp mills and three lumber manufacturing facilities in the united states, plus a fiberboard plant in new zealand that was acquired in 1997. over two - thirds of rayonier' s income is derived from sales of timber and wood products; its remaining income comes from sales of specialty pulp products, such as cellulose pulp used in photographic film. rayonier focuses heavily on the international market; about half of its sales in 1997 were made outside of the united states. during the late 1990s, along with many other companies in this industry, rayonier experienced a drop in sales and income. in 1997 it was forced to close a third pulp mill in washington, and its sales reflected a six percent decrease from the previous year. rayonier' s operations also were greatly affected by environmental regulations, especially in the pacific northwest .
the recent completion of our acquisition of tembec represents the opening of another new chapter for our company. rayonier advanced materials is now a global manufacturer of high - purity cellulose, paperboard, lumber, and newsprint to high - yield pulp. if you are new to rayonier advanced materials, we welcome you. if you are an existing customer or partner, you will appreciate our expanded product offerings, increased innovation and an even larger geographic footprint .
armbruster, william ,
rayonier inc. ; producer of paper products finds ways to push its way overseas ,
journal of commerce online, may 21, 1997, http: / / www. joc. com .
rayonier inc. announced today that david nunes, president and ceo, will present at nareit’s reitweek: 2018 investor conference on tuesday, june 5 at 11: 45 a. m. eastern time in new york, ny .
stock monitor: boise cascade post earnings reporting london, uk / accesswire / march 08, 2018 / urltoken has just released a free earnings report on rayonier inc. (nyse: ryn). if you want ...
upside participation – with approximately 37% of the consideration in the form of rayonier advanced material stock, tembec shareholders have the opportunity to capture enhanced long - term value prospects through ongoing participation in a larger, more diverse company .
in 1968, rayonier was acquired by the itt corporation (originally the international telephone and telegraph corporation), and became part of itt' s steady growth into a conglomerate. the new entity, itt rayonier, became a wholly owned subsidiary of itt, and the 1980s found rayonier immersed in the world of hostile corporate takeovers. in 1979 itt had hired a new ceo, rand araskog, a west point graduate and an interrogator of soviet defectors for the national security agency in the 1950s. an aggressive investor, he fought off three takeover attempts of itt in the 1980s, later chronicling these events in a book whose title illustrated his approach to business, the itt wars. at the same time, his salary of $ 8. 5 million (high even in the late 1980s) was questioned by numerous investors in itt, including the california public employees' retirement system, especially given itt' s mediocre performance. facing growing criticism, araskog split itt into three separate corporations, and several subsidiaries were spun off as independent corporations, including rayonier. as of february 28, 1994, rayonier once again was an independent company, and it took back its original name. its president through the itt years, ronald gross, shortly afterward became chairman and ceo, a position he still held in 1998. araskog continued to serve on the rayonier board of directors as well .
rayonier had long been active in the international arena, having marketed its pulp products in japan since the 1930s and in korea and china since the early 1980s. the newly independent rayonier also placed a great deal of attention on operating as a multinational company, targeting europe, asia, and latin america. in 1995, sales outside of the united states made up 59 percent of rayonier' s total sales of $ 1. 26 billion. rayonier managed timber holdings in new zealand (almost 220, 000 acres) that supplied much of the asian market, and it also purchased lumber from chile and russia. there was a significant difference in the
rotation age
of timberland in the united states and elsewhere. timber in the southeastern united states (primarily softwoods such as southern pine) would mature in only 20 - 25 years; but in the northwestern united states (home to douglas fir and hemlock), the cycle was 45 - 50 years. in new zealand, the average rotation period was 25 - 28 years. thus the new zealand timber holdings became more desirable. more than half of rayonier' s specialty pulp products also were sold to foreign countries .
rayonier inc. (nyse: ryn) is a timberland reit with assets in the u. s. and new zealand. the company recently announced the addition of a marcato capital management executive to its board. the analyst ...
enhanced liquidity – in the year prior to the announcement, tembec common shares traded an average of $ 0. 13 million per day. in contrast, rayonier advanced materials shares traded an average of $ 7. 8 million per day in the same period, which means that the company’s shares are greater than 60 times more liquid than tembec shares. as part of a significantly larger company, tembec shareholders receiving rayonier advanced materials common stock will benefit from this significantly increased market liquidity .
in may 2016, rayonier announced upgrades to it pacific northwest timberland portfolio through the acquisition of 61, 000 acres of timberlands in western oregon for $ 263 million, and a disposition of 55, 000 acres comprising predominantly pre - merchantable timber in washington state for $ 130 million. the transactions significantly enhance rayonier' s pacific northwest portfolio by smoothing the age - class distribution, increasing merchantable timber inventory and increasing both long - term and near - term harvest potential. [ 16 ]
as the leading global supplier of high - purity, cellulose specialties, lumber, paper pulp, paper and paperboard products, rayonier advanced materials builds on more than 90 years of experience to provide our customers with exceptional quality, service and value .
rayonier purchased 969, 000 acres (3, 920 km 2) of timberland in florida, georgia and alabama in 1999, then relocated the corporate offices to jacksonville, florida, to be closer to company employees and properties. [ 5 ]
rayonier pulp mill in port angeles closes after 67 years; 365 to lose jobs ,
morning news - tribune (tacoma, wa), march 2, 1997, p. b2, http: / / archive. tribnet. com .
rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the u. s. and new zealand. as of june 30, 2015, rayonier owned, leased or managed approximately 2. 7 million acres of timberlands located in the u. s. south (1. 9 million acres), u. s. pacific northwest (373, 000 acres) and new zealand (444, 000 acres). more information is available at urltoken .
yulee, fla. - - (business wire) - - may 22, 2018 - - rayonier inc. (nyse: ryn) announced today that david nunes, president and ceo, will present at nareit’s reitweek: 2018 investor conference on tuesday, june 5 at 11: 45 a. m. eastern time in new york, ny. to access a live webcast of the presentation, participants can visit the investor relations section of rayonier’s website at urltoken and follow the registration link. the webcast will be availabl ...
nunes brings three decades of timber and real estate industry leadership to his new role, including more than 15 years as a senior executive. he joins rayonier inc. from pope resources (nasdaq: pope), where he has served as president and ceo since 2002 .
rayonier pays a quarterly dividend of $ 0. 07 per share. the company’s current stock price of $ 13. 25 is priced at a forward dividend yield of 2. 1% – just above the s & p 500’s average dividend yield of 2. 0% .
rayonier reported adjusted earnings - per - share of $ 1. 43 for fiscal 2016. the company’s current stock price is a 9. 3x multiple of 2016’s earnings. this is well below the s & p 500’s current price - to - earnings ratio of ~ 25 .
please be aware that there are individuals who fraudulently pose as recruiters for various companies, including rayonier. a legitimate position will be listed on our website. if you have any questions about the legitimacy of a position, please call our main number at 904 - 357 - 9100 .
since our inception in 1926, resourceful and determined rayonier employees have worked to further our vision and mission. many changes have taken place over the past 90 years, but our fundamental values remain the same. we look forward to creating opportunities and value for many generations to come .
david nunes, president and ceo of rayonier, said: “these new credit facilities and the recapitalization of our new zealand joint venture will simplify our capital structure, provide material interest costs savings, increase our ownership position in a strategic asset, and enhance our strategic flexibility going forward. we believe that the jv recapitalization transaction represents an attractive capital allocation alternative for rayonier and is being made at an opportune time based on the long - term outlook for the business, the enhanced strategic flexibility that it provides, and the currently favorable nz $ / us $ exchange rate. ”
the company’s timber segments own or lease approximately 2. 7 million acres of timberlands located in the u. s. and new zealand. the timber segments conduct timber harvesting activities, manage timberlands and sell timber and logs to third parties. on april 4, 2013, the company acquired an additional 39% interest in the new zealand jv, which currently owns or leases approximately 439, 000 gross acres (299, 000 net plantable acres) of new zealand timberlands. the acquisition of additional interest brought the company’s ownership to 65% . as a result, the new zealand jv’s results of operations have been consolidated and included within the new zealand timber segment since the date rayonier acquired control. rayonier’s wholly - owned subsidiary, rayonier new zealand limited (“rnz”) serves as the manager of the new zealand jv forests. see note 7 — joint venture investment .
rayonier inc. today announced that its board of directors has approved an 8% increase in its quarterly cash dividend to $ 0. 27 per share from $ 0. 25 per share. the dividend is payable on june 29, 2018 to shareholders of record on june 15, 2018 .
we trace our history back to 1926, when the rainier pulp & paper company began operation in washington state. eleven years later, we emerged as a global leader. with three companies merging in 1937 to form rayonier, we immediately became the single largest manufacturer of dissolving pulps in the world .
in 1931 rainier teamed up with du pont, the leading producer of rayon, and perfected the world' s first pulp made from hemlock designed specifically for the rayon industry. in 1937 the company merged with two other mills in washington and was incorporated as rayonier. the company began trading on the new york stock exchange that same year. rayonier was already the largest single manufacturer of dissolving pulps in the world at that time. the company purchased timberlands in the southeastern united states the following year, and in 1939 it completed the first southeastern pulp mill in florida to utilize the region' s extensive resources .
the company' s new zealand timberlands consisted of approximately 433, 000 acres, including approximately 254, 000 acres of leased lands, of which approximately 299, 000 acres, including approximately 164, 000 acres of leased lands) were designated as productive or plantation acres, as of december 31, 2016. the company owns interest in matariki forestry group, a joint venture (new zealand jv). rayonier' s subsidiary, rayonier new zealand limited (rnz) serves as the manager of the new zealand jv forests. the company' s new zealand timberlands serve a domestic sawmilling market and also export logs to pacific rim markets .
note that any webcasts or presentations on this website were created as of the dates listed, and reflected management views as of those dates. these presentations may contain certain forward - looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. such risks and uncertainties include, but are not limited to, the risk factors noted in rayonier’s earnings releases and its filings with the securities and exchange commission. rayonier assumes no obligation to update the information in the presentations, which speak only as of their respective dates, except as may be required by law .
rayonier advanced materials media ryan houck, 904 - 357 - 9134 media @ urltoken or investors mickey walsh, 904 - 357 - 9162 mickey. walsh @ urltoken or tembec media linda coates, 416 - 775 - 2819 linda. coates @ urltoken or investors michel dumas, 819 - 627 - 4268 michel. dumas @ urltoken
in 1931, when dupont sought a process to purify hemlock pulp for use in the production of rayon, they turned to us, planting the seeds for a partnership that led to innovation and fueled rayonier’s growth. in the years since, we’ve built and maintained our position as the leading provider of high - purity performance fibers .
rainier pulp and paper changed its name to rayonier, a portmanteau of the words rayon and rainier, in 1937, when it became a publicly traded company. the following year, the company acquired timber stands in the southeastern united states and began construction of a fernandina beach, florida, pulp mill, which began production in 1939 .
real estate at rayonier, we evaluate each acre of our timberland to determine its greatest potential and highest and best use. in some cases, land that was once best suited for growing timber is now more valuable for residential, industrial, commercial or conservation use. our real estate subsidiary provides added value by entitling or selling these properties .
rayonier operates in five reportable business segments: southern timber, pacific northwest timber, new zealand timber, real estate and trading. see note 4 — segment and geographical information for further discussion of its reportable business segments and note 21 — discontinued operations for additional information on the sale of the wood products business and the spin - off of the performance fibers business .
a graphic example of this clash was seen in the fate that befell the rayonier pulp plant in port angeles, washington. throughout the 1990s, the company had to reduce the amount of timber harvested from private land that was the home of endangered species. as a result, the washington hemlock that was used at the port angeles mill became more expensive, and the mill lost money almost every year. also, the plant facility itself was considered an environmental problem, and required numerous expensive upgrades. (as described in a seattle times article ,
for nearly 70 years, the smokestacks of the rayonier mill have scented the air... with a faint, sulphur - like smell .) however, the mill provided jobs for several hundred workers, and paid taxes that amounted to ten percent of the city' s budget. when it appeared inevitable that the plant would close, workers began to display bumper stickers saying ,
millworkers are an endangered species, too !
rayonier closed the mill permanently in february 1997, citing its inability to continue competing with plants in lower - cost areas such as the southeastern united states, south africa, and asia .
although rayonier believes that the expectations reflected in any forward - looking statements are based on reasonable assumptions, it can give no assurance that these expectations will be attained and it is possible that actual results may differ materially from those indicated by these forward - looking statements due to a variety of risks and uncertainties. such factors include, but are not limited to: uncertainties as to the timing of the spin - off and whether it will be completed, the possibility that various closing conditions for the spin - off may not be satisfied or waived, the expected tax treatment of the spin - off, the impact of the spin - off on the businesses of rayonier and the performance fibers company, the ability of both companies to meet debt service requirements, the availability and terms of financing and expectations of credit rating. other important factors are described in the company’s most recent form 10 - k and 10 - q reports on file with the securities and exchange commission that could cause actual results or events to differ materially from those expressed in forward - looking statements that may have been made in this document. rayonier assumes no obligation to update these statements except as is required by law .
in its 1997 annual report, the management of rayonier set out a detailed strategy for its coming years. aware of the possibility that asian economies might continue to falter, rayonier anticipated another
challenging year .
in a belt - tightening mode (adopting cost controls and reducing discretionary spending), the company planned to adopt a four - pronged strategy: (1) to manage its u. s. and new zealand timber acreage for strong cash flow; (2) to enhance its position as the world' s leading supplier of specialty pulp, an already highly profitable segment; (3) to pursue strategic opportunities in its timber and wood product operations; and (4) to remain in the top quartile of company financial results in the industry. two early results of this strategy were a cut of $ 15 million in operating costs in 1997, plus the announcement of a worldwide timberland alliance with grantham, mayo, van otterloo & co. llc (gmo), a global investment management firm based in boston. gmo chose rayonier in early 1998 to manage its forest and timber operations, in return for an option to co - invest in the gmo properties .
rayonier inc. , a north carolina corporation, including its consolidated subsidiaries (“rayonier” or “the company”), is a leading timberland real estate investment trust (“reit”) with assets located in some of the most productive softwood timber growing regions in the u. s. and new zealand and its shares have a $ 0. 00 par value. the company owns or leases approximately 2. 7 million acres of timberland, located in the united states and new zealand. included in this property is approximately 0. 2 million acres of timberlands located primarily along the coastal region from savannah, georgia to daytona beach, florida, some of which has long - term potential for real estate development. the company also engages in the trading of logs, primarily to support the company’s new zealand export operations .
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 urltoken .
itt rayonier was incorporated in 1926 as the rainier pulp and paper company in shelton, washington. the company' s founders, including edward m. mills, were the first to recognize an opportunity to use the west coast' s plentiful western hemlock tree species for the production of a superior grade of bleached paper pulp. the company' s first mill in shelton, washington, went into production the following year .
the vast majority of the company’s hbu properties are managed as timberland and generate cash flow from timber operations prior to their sale or, in the case of improved development properties, prior to improvement. all of the company’s u. s. land sales, including hbu and non - hbu, are reported in the real estate segment. rayonier employs a detailed land classification process for all of its timberland and hbu acres .
further information regarding the transaction is contained in the management information circular in connection with the special meeting of the tembec shareholders filed by tembec with the canadian securities administrators on june 23, 2017 and furnished by rayonier advanced materials on form 8 - k filed june 23, 2017 with the u. s. securities and exchange commission. investors and security holders are urged to read the information circular, as it contains important information concerning the proposed transaction. investors and security holders may obtain a copy of the arrangement agreement, information circular and other meeting materials at urltoken and urltoken. this document is for informational purposes only. it does not constitute an offer to purchase shares of rayonier advanced materials or tembec or a solicitation or recommendation statement under the rules and regulations of the canadian securities regulators, the u. s. securities and exchange commission or other applicable laws .
is a leading global supplier of high purity cellulose, a natural polymer commonly found in cell phones, computer screens, filters and pharmaceuticals. the company engineers dozens of customized products at its plants in florida and georgia, delivering unique properties, unparalleled consistency and exceptional quality. rayonier advanced materials’ facilities can produce approximately 485, 000 tons of high purity cellulose and 245, 000 tons of commodity products. with approximately 1, 200 employees and revenues of
jacksonville, fla. - - (business wire) - - aug. 5, 2015 - - rayonier inc. (nyse: ryn) today announced that it has entered into a credit agreement with cobank, acb, as administrative agent, and a syndicate of farm credit institutions and other commercial banks to provide $ 550 million of new credit facilities, including a five - year $ 200 million revolving credit facility and a nine - year $ 350 million term loan facility. the new credit facilities will be used to refinance the company’s existing revolving credit facility and senior exchangeable notes (due in august 2015), as well as fund an anticipated capital infusion into the company’s new zealand joint venture (the “matariki jv” or the “jv”) for repayment of jv indebtedness. as an eligible farm credit system loan, the term loan facility will allow rayonier to receive annual patronage payments, which should lower the company’s net effective interest cost .
in the mid - and late 1990s, the timber and pulp industries both were experiencing hard times, a fate shared by rayonier. its 1992 sales (while owned by itt) stood at $ 974 million, with a $ 103 million loss in the income column; 1993 saw sales drop to $ 936 million. after rayonier became an independent company again, its sales rose gradually at first ($ 1. 07 billion in 1994 and $ 1. 26 billion in 1995), but then began to decline again. for 1996, sales totalled $ 1. 18 billion (with a loss of $ 98 million); 1997 sales dropped again, to $ 1. 1 billion. although the u. s. timber market was relatively strong in the late 1990s, there was a sharp decline in the demand for timber from new zealand, and pulp prices were also dropping. for example, a grade of pulp that sold for $ 975 a ton in mid - 1995 brought only $ 500 a ton in early 1997. in a january 1998 press release, ceo gross attributed this problem to developing economies in asia, which had been a key market for these products :
the turmoil in asia has clouded the near - term outlook .
in early 1998, there was some hope that at least the pulp market was recovering, as the rating firm goldman sachs raised its ratings on a number of pulp - related companies, including rayonier .
hedge fund manager mick mcguire said on tuesday that rayonier advanced materials inc' s stock price could triple if the company focuses on integrating a recent acquisition and cutting costs. mcguire' s marcato capital management began buying the stock last year and spoke about the chemical company that specializes in cellulose - based products publicly for the first time on tuesday at the 13d monitor' s 2018 active - passive investor summit .
the company should concentrate on integrating its recent acquisition, paying down debt and buying back stock ,
mcguire said .
as of 1997, the geographic distribution of rayonier' s two key product lines (timber and wood products, and specialty pulp products) broke down as follows: timber and wood (united states, 62 percent; japan, 18 percent; south korea, nine percent; new zealand, seven percent; other, four percent), specialty pulp (united states, 41 percent; europe, 23 percent; japan, 14 percent; latin america, ten percent; other asian countries, nine percent; other, three percent) .
full price discovery – tembec’s board of directors and management, with the assistance of their financial and legal advisors, reviewed strategic alternatives for nearly two years, including the continuation of tembec' s existing stand - alone business plan and the divestiture of core and non - core segments, before recognizing that a transaction with rayonier advanced materials was the best option for tembec and its shareholders. the interest of tembec’s board of directors and management are fully aligned to that of shareholders, and tembec’s board received two fairness opinions to the effect that the transaction is fair .
the issue of environmental measures taken against companies such as rayonier was a heated political topic in the late 1990s. controversial measures that were satisfactory to neither enviromentalists nor timber companies were taken in the areas of clear - cutting timber, air emissions, and water discharges. notably, a growing number of companies were allowed to adopt
habitat conservation plans
( hcps). in exchange for the right to do commercial logging on private property, the companies were required to adopt voluntary conservation plans that exempted them from some other environmental regulations. many environmental organizations, such as the national wildlife federation, were greatly concerned that the voluntary plans would not adequately protect plant and animal life. for instance, the washington state office of the national audubon society found that the vast majority of the proposed hcps in that state involved the cutting of older (and hence more commercially valuable) trees on private land, and relied on using adjacent federal forestland as a refuge for the displaced endangered species. the federal approval process for new plans, including rayonier' s, was temporarily suspended in december 1997 as the result of a lawsuit .
yulee, fla. - - (business wire) - - may 21, 2018 - - rayonier inc. (nyse: ryn) today announced that its board of directors has approved an 8% increase in its quarterly cash dividend to $ 0. 27 per share from $ 0. 25 per share. the dividend is payable on june 29, 2018 to shareholders of record on june 15, 2018. “based on our significant cash flow growth, strong capital structure, and confidence in the sustainability of our core businesses, i am pleased ...
rayonier inc. (rayonier), incorporated on december 3, 1993, is a timberland real estate investment trust (reit) with assets located in some of the timber growing regions in the united states and new zealand. the company operates through five segments: southern timber, pacific northwest timber, new zealand timber, real estate and trading. the southern timber, pacific northwest timber and new zealand timber segments reflect all activities related to the harvesting of timber and other activities, such as recreational leases, within each respective geography. its new zealand timber segment also reflects land sales that occur within its new zealand portfolio. its real estate segment reflects the united states land sales. its trading segment reflects the log trading activities that support its new zealand operations. the company owned, leased or managed approximately 2. 7 million acres of timberlands located in the united states south, the united states pacific northwest and new zealand, as of december 31, 2016. in addition, the company is engaged in the trading of logs from new zealand and australia to pacific rim markets, primarily to support its new zealand export operations .
the company' s real estate segment includes the united states land sales, including higher and better use (hbu) and non - hbu. the company' s real estate sales include over five categories: improved development, unimproved development, rural, non - strategic / timberlands and large dispositions. the improved development category consists of properties sold for development for which rayonier, through a taxable reit subsidiary, has invested in site improvements, such as infrastructure, roadways, utilities, amenities and / or other improvements. the unimproved development category consists of properties sold for development, which rayonier has not invested in site improvements, such as infrastructure. the rural category consists of properties sold in rural markets to buyers interested in the property for rural residential or recreational use. the non - strategic / timberland category includes sales of non - core timberlands, sales of core timberlands, and sales of properties to conservation interests that preserve the land for habitat, public recreation, natural growth, buffer zones or other environmental purposes. the large dispositions category included sales of timberland that exceed over $ 20 million in size and do not have any identified hbu premium relative to timberland value, as of december 31, 2016 .
in 2014, rayonier inc. divided its land resources businesses from its performance fibers business, creating two independent publicly traded companies. completion of the acquisition of tembec represents the opening of yet another new chapter for our company. we are now a global forest products company with products ranging from lumber, paperboard and newsprint to high - yield pulp and high - purity cellulose. we have expanded our international footprint to include global manufacturing operations in canada and france in addition to our u. s. operations. we have increased opportunities for innovation and product diversification. we are even better positioned for future growth .
rayonier was founded in 1926 as the rainier pulp and paper company in shelton, washington, with an office in san francisco, california. its name was inspired by mount rainier in washington state. its first mill opened the next year in shelton and port angeles, washington, on the olympic peninsula. the mill used tsuga heterophylla (western hemlock) trees to create a premium bleached paper pulp. in 1931, rainier pulp and paper began working with the dupont chemical company to produce hemlock pulp for the manufacture of rayon. two additional pulp mills were constructed and began operation in the state of washington .
rayonier is a timberland real estate investment trust. co. has five business segments: the southern timber, pacific northwest timber and new zealand timber, which reflect activities related to the harvesting of timber and other activities, such as recreational licenses; real estate, which reflects u. s. land sales comprised of: improved development, unimproved development, rural, non - strategic / timberlands, and large dispositions; and trading, which reflects the log trading activities that support co.' s new zealand operations. at dec 31 2017, co. owned, leased or managed approximately 2. 6 million acres of timberlands located in the u. s. south, u. s. pacific northwest and new zealand.
rayonier inc , headquartered in jacksonville , florida , is a timberland real estate investment trust ( " reit " ) with assets located in some of the most productive softwood timber growing regions in the united states and new zealand . its core business segments are timber and real estate . as of september 30 , 2016 , the company owned or leased approximately 2.3 million acres of timberlands located in the u.s. south ( 1.9 million acres ) and u.s. pacific northwest ( 379,000 acres ) . the company also has a 77 % ownership interest in matariki forestry group , a joint venture , that owns or leases approximately 436,000 acres ( 299,000 net plantable acres ) of timberlands in new zealand . 
rayonier inc, headquartered in jacksonville, florida, is a timberland real estate investment trust (" reit ") with assets located in some of the most productive softwood timber growing regions in the united states and new zealand. its core business segments are timber and real estate. as of september 30, 2016, the company owned or leased approximately 2.3 million acres of timberlands located in the u.s. south (1.9 million acres) and u.s. pacific northwest (379,000 acres). the company also has a 77% ownership interest in matariki forestry group, a joint venture, that owns or leases approximately 436,000 acres (299,000 net plantable acres) of timberlands in new zealand.
rayonier inc, headquartered in jacksonville, florida, is a timberland real estate investment trust (" reit ") with assets located in some of the most productive softwood timber growing regions in the united states and new zealand. its core business segments are timber and real estate. as of september 30, 2016, the company owned or leased approximately 2.3 million acres of timberlands located in the u.s. south (1.9 million acres) and u.s. pacific northwest (379,000 acres). the company also has a 77% ownership interest in matariki forestry group, a joint venture, that owns or leases approximately 436,000 acres (299,000 net plantable acres) of timberlands in new zealand.