Rayonier Completes Acquisition of 250,000 Acres
29 Novembro 2011 - 12:00PM
Business Wire
Rayonier (NYSE:RYN) completed the previously announced
acquisition of approximately 250,000 acres of timberlands from
Joshua Timberlands LLC and Oklahoma Timber, LLC for $330 million.
The acquisition was funded using cash, Rayonier’s revolving credit
facility and the assumption of existing debt of the sellers.
“The acquisition of these quality timberlands aligns with our
strategy to grow and diversify Rayonier’s timberland ownership,”
said Lee M. Thomas, chairman and chief executive officer.
The timberlands are located primarily in Mississippi, Louisiana,
Oklahoma and Alabama. With the completion of the acquisition,
Rayonier now owns, leases or manages approximately 2.7 million
acres in ten states in the U.S., and New Zealand.
About Rayonier
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 2.7 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 45 percent of the company's sales are outside the
U.S. to customers in approximately 40 countries. Rayonier is
structured as a real estate investment trust. More information is
available at www.rayonier.com.
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