Rayonier Advanced Materials Announces Sale of GreenFirst Forest Products Inc. Shares
02 Maio 2022 - 6:00PM
Business Wire
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20220502005710/en/
Media Ryan Houck 904-357-9134
Investors Mickey Walsh 904-357-9162
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