Rayonier Advanced Materials Announces Restart of Operations after Hurricane Irma
JACKSONVILLE, Fla.–(BUSINESS WIRE)–Rayonier Advanced Materials Inc. (NYSE:RYAM) announced that it is
beginning to restart core systems today at its Fernandina Beach, Fla.
and Jesup, Ga. facilities after Hurricane Irma passed through the area.
The Company expects operations to be running at full production capacity
by the weekend. The pre-emptive shutdown was managed safely with no
injuries and limited physical damage to the facilities. The Company is
coordinating with suppliers and logistic partners to help ensure a safe
and efficient restart of operations with minimal customer disruption.
“I am proud of the way that our team safely managed the impact of this
historic storm,” said Paul G. Boynton, Chairman, CEO and President. “Our
thoughts and prayers are with those that were impacted by Hurricane
Irma. We look forward to being back on line later this week serving all
of our customers.”
About Rayonier Advanced Materials
Rayonier Advanced Materials is the leading global supplier of
high-purity, cellulose specialties natural polymers for the chemical
industry. Working closely with its customers, the Company engineers
natural polymeric chemical chains to create dozens of customized
high-purity performance fibers at its plants in Florida and Georgia.
Rayonier Advanced Materials’ intellectual property and manufacturing
processes have been developed over 90 years, resulting in unique
properties and very high quality and consistency. The Company’s
facilities have the capacity to produce approximately 485,000 tons of
cellulose specialties for use in a wide range of industrial and consumer
products such as filters, cosmetics and pharmaceuticals and
approximately 245,000 tons of commodity products. Rayonier Advanced
Materials is consistently ranked among the nation’s top 50 exporters and
delivers products to 80 ports around the world, serving customers in 35
countries across five continents. More information is available at www.rayonieram.com.
Forward-Looking Statements
Certain statements in this document regarding anticipated financial,
business, legal or other outcomes including business and market
conditions, outlook and other similar statements relating
to Rayonier Advanced Materials’ future events, developments, or
financial or operational performance or results, are “forward-looking
statements” made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995 and other federal securities
laws. These forward-looking statements are identified by the use of
words such as “may,” “will,” “should,” “expect,” “estimate,” “believe,”
“intend,” “forecast,” “anticipate,” “guidance,” and other similar
language. However, the absence of these or similar words or expressions
does not mean a statement is not forward-looking. While we believe these
forward-looking statements are reasonable when made, forward-looking
statements are not guarantees of future performance or events and undue
reliance should not be placed on these statements. Although we believe
the expectations reflected in any forward-looking statements are based
on reasonable assumptions, we can give no assurance these expectations
will be attained and it is possible actual results may differ materially
from those indicated by these forward-looking statements due to a
variety of risks and uncertainties.
Such risks and uncertainties include, but are not limited to:
competitive pressures in the markets in which we operate, especially
with respect to increases in supply and pressures on demand for our
products, which impact pricing; our ability to complete our announced
cost and debt reduction initiatives and objectives within the planned
parameters and achieve the anticipated benefits; our customer
concentration, especially with our three largest customers; changes in
global economic conditions, including currency; the Chinese dumping
duties currently in effect for commodity viscose pulps; potential legal,
regulatory and similar challenges relating to our permitted air
emissions and waste water discharges from our facilities by
non-governmental groups and individuals; the effect of current and
future environmental laws and regulations as well as changes in
circumstances on the cost and estimated future cost of required
environmental expenditures; the potential impact of future
tobacco-related restrictions; potential for additional pension
contributions; labor relations with the unions representing our hourly
employees; the effect of weather and other natural conditions; changes
in transportation-related costs and availability; the failure to attract
and retain key personnel; the failure to innovate to maintain our
competitiveness, grow our business and protect our intellectual
property; uncertainties related to the availability of additional
financing to us in the future and the terms of such financing; our
inability to make or effectively integrate current and future
acquisitions and engage in certain other corporate transactions; any
failure to realize expected benefits from our separation from Rayonier
Inc.; risks related to our pending acquisition of Tembec Inc., including
the failure to satisfy the conditions to completing the transaction,
including obtaining regulatory approvals, our failure to obtain the
anticipated benefits and synergies from the acquisition and the impact
of additional debt we will incur and equity that we will issue to
finance the acquisition; financial and other obligations under
agreements relating to our debt; and uncertainties relating to general
economic, political, and regulatory conditions.
Other important factors 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 are described or will be
described in our filings with the U.S. Securities and Exchange
Commission, including our Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q. Rayonier Advanced Materials assumes no obligation
to update these statements except as is required by law
Contacts
Rayonier Advanced Materials Inc.
Media
Ryan Houck, 904-357-9134
or
Investors
Mickey
Walsh, 904-357-9162