JACKSONVILLE, Fla.--(BUSINESS WIRE)--Jun. 27, 2018--
Rayonier Advanced Materials Inc. (NYSE: RYAM) and Borregaard ASA (BRG)
announced today LignoTech Florida, owned 45 percent by RYAM and 55
percent by BRG, officially begun operations at the new lignin plant in
Fernandina Beach. The plant has production capacity of 100,000 dry
metric tons of lignin with the option of a second phase that can later
expand production by an additional 50,000 dry metric tons
“We are excited to complete construction phase of the plant, on time and
within $110 million combined budget,” said Paul G. Boynton, Chairman,
President and Chief Executive Officer of Rayonier Advanced Materials.
“This investment provides new jobs for the Fernandina Beach community,
diverse and environmentally-friendly products for Rayonier Advanced
Materials, and a solid return on capital for our investors.”
Lignin, a natural component of wood, is a co-product of Rayonier
Advanced Material’s sulphite cellulose manufacturing process in
Fernandina Beach. The new operation will process the lignin into
value-added products that provide environmentally-friendly alternatives
to fossil fuel-based products used globally in construction, agriculture
and other industrial applications.
LignoTech Florida has received unwavering support from the City of
Fernandina Beach, Nassau County and the State of Florida throughout the
evaluation and construction process. The economic and logistical support
provided by local and state governments helped to bring this investment
into the community and created more than 50 new high-paying jobs at the
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 cell phones, computer screens, filters and
pharmaceuticals. The Company also manufactures products for
lumber, paper and packaging markets. With manufacturing
operations in the U.S., Canada and France, Rayonier Advanced Materials
employs approximately 4,200 people and generates approximately US$2
billion of pro forma revenues. More information is available at www.rayonieram.com.
About Borregaard ASA
Borregaard operates the world’s most advanced biorefinery. By using
natural, sustainable raw materials, Borregaard produces advanced and
environmentally friendly biochemicals, biomaterials and bioethanol that
replace oil-based products. The Borregaard Group has 1050 employees in
16 countries and had revenues in 2017 of approximately $550 million. The
lignin business constitutes close to 50% of the Group’s turnover with
plants in 7 countries.
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’ or LignoTech Florida’s future or
expected 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," "anticipate" and other
similar language. However, the absence of these or similar words or
expressions does not mean that 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 that actual
results may differ materially from those indicated by these
forward-looking statements due to a variety of risks and uncertainties.
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.
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Source: Rayonier Advanced Materials Inc.
Rayonier Advanced Materials Inc.
Media: Ryan Houck, 904-357-9134
Mickey Walsh, 904-357-9162