Book Online or Call 1-855-SAUSALITO

Sign In  |  Register  |  About Sausalito  |  Contact Us

Sausalito, CA
September 01, 2020 1:41pm
7-Day Forecast | Traffic
  • Search Hotels in Sausalito

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Rayonier Advanced Materials Announces Sale of GreenFirst Forest Products Inc. Shares

Rayonier Advanced Materials Inc. (NYSE: RYAM) (the “Company”) announced that it has sold 28,684,433 common shares of GreenFirst Forest Products Inc. to a wholly-owned subsidiary of Interfor Corporation for approximately $43.3 million. The agreement contains a Purchase Price Protection clause whereby the Company is entitled to participate in further stock price appreciation under certain circumstances and for a specified period.

Consistent with prior communications, the Company expects to use cash proceeds from this transaction to opportunistically repay debt or assist with a holistic refinancing of its capital structure, including its Senior Notes due on June 1, 2024.

About Rayonier Advanced Materials

Rayonier Advanced Materials is a global leader of cellulose-based technologies, including high purity cellulose specialties, a natural polymer commonly found in filters, food, pharmaceuticals and other industrial applications. The Company also manufactures products for paper and packaging markets. With manufacturing operations in the U.S., Canada and France, Rayonier Advanced Materials employs just over 2,500 people and generates approximately $1.4 billion of revenues. More information is available at www.rayonieram.com.

About GreenFirst Forest Products

GreenFirst is a publicly-listed (TSX: GFP) forest products company with seven sawmills and one paper mill in Eastern Canada, and licences providing long-term access to approximately 3.7 million cubic metres of fibre in the provinces of Ontario and Quebec.

About Interfor

Interfor is a growth-oriented forest products company with operations in Canada and the United States. The Company has annual lumber production capacity of 4.9 billion board feet and offers a diverse line of lumber products to customers around the world. For more information about Interfor, visit www.interfor.com.

Contacts

Media

Ryan Houck

904-357-9134

Investors

Mickey Walsh

904-357-9162

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Photos copyright by Jay Graham Photographer
Copyright © 2010-2020 Sausalito.com & California Media Partners, LLC. All rights reserved.