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ONTARIO and QUEBEC - GreenFirst Forest Products, a Canadian lumber company, will buy five lumber mills and one newsprint mill from Rayonier Advanced Materials for $214 million. Rayonier is a leading producer of cellulose pulp.
The deal includes all inventory currently on hand. Four of the sawmills are in Ontario and one is in Quebec. The newsprint mill is in Ontario.
The mills produced 604 million board feet of lumber in 2020 and are capable of producing a wide range of forest products used in residential and commercial construction, including dimensional lumber, wood chips, and by-products.
“This is a tremendous opportunity,” said Paul Rivett, Incoming Chairman of GreenFirst Forest Products and Chairman of NordStar Capital. “This represents a large step forward to our previously announced strategy of building GreenFirst as focused on lumber, newsprint, and forestry investments. We are excited to be expanding our manufacturing footprint through this investment and
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Press release content from Business Wire. The AP news staff was not involved in its creation.
Rayonier Advanced Materials Announces Interim Management Changes in its High Purity Cellulose and Pulp Businesses
January 12, 2021 GMT
JACKSONVILLE, Fla. (BUSINESS WIRE) Jan 12, 2021
Rayonier Advanced Materials Inc. (NYSE:RYAM) (the “Company”) announced changes to the management structure in its High Purity Cellulose segment and Pulp business. Dr. Christoph Koenig will assume responsibility for all High Purity Cellulose sales, while Tomas Fernandez will assume responsibility for marketing and customer service, sustainability, high yield pulp and lignin sales, research and development, and other strategic growth initiatives.
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