JACKSONVILLE, Fla.--(BUSINESS WIRE)--Dec. 1, 2015--
Rayonier Advanced Materials Inc. (NYSE:RYAM) announced today that the
Company and Eastman Chemical Company, its largest customer, have settled
their legal dispute and entered into a new cellulose specialties
purchase and sale agreement that extends through December 31, 2019.
"For over 85 years we have worked closely and collaboratively with
Eastman. We are pleased to have resolved our differences and entered
into a new contract that continues our long and valued relationship
through 2019,” stated Paul Boynton, Chairman, President and CEO of
Rayonier Advanced Materials. “We look forward to contributing to
Eastman's continued success for many years to come."
Consistent with the Company’s customary practice, it expects to discuss
aggregate pricing and volume estimates for the coming year on the
Company’s next earnings call in early February.
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 85 years, resulting in unique
properties and very high quality and consistency. Upon completion of the
previously announced strategic realignment of assets in Jesup, the
Company's facilities will 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 79 ports around the world,
serving customers in 20 countries across five continents. More
information is available at www.rayonieram.com.
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,”
“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 that 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 that the expectations reflected
in any forward-looking statements are based on reasonable assumptions,
we can give no assurance that 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
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. 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: Russell Schweiss,
Investors: Mickey Walsh, 904-357-9162