Rayonier Advanced Materials
| Company type | Public |
|---|---|
| Industry | Cellulose technology, Performance fibers, Paper and packaging materials |
| Predecessor | Rayonier, Inc. (performance fiber operations) |
| Founded | 2014 |
| Headquarters | Jacksonville, Florida , United States |
Area served | United States, Canada, France |
| Products | High-grade cellulose products for filtration, food processing, pharmaceuticals, industrial uses, paper and packaging |
Rayonier Advanced Materials, currently operating under the name RYAM, is a prominent U.S.-based firm specializing in technologies derived from cellulose. The company manufactures high-grade cellulose products utilized in filtration systems, food processing, pharmaceuticals, and diverse industrial sectors, alongside offerings for the paper and packaging markets. Listed on the New York Stock Exchange with the symbol RYAM, its main office is located in Jacksonville, Florida, while its production facilities are situated across the United States, Canada, and France. The creation of RYAM occurred in 2014 following the division of Rayonier, Inc. into two separate companies: Rayonier retained its focus on real estate and timberlands, whereas RYAM assumed responsibility for performance fiber operations.
20th century
The roots of Rayonier Advanced Materials date back to 1926 when Rainier Pulp and Paper Company was established in San Francisco, California. Its initial manufacturing plants began operations in Shelton, Washington and Port Angeles, specializing in high-quality bleached pulp sourced from western hemlock. In 1931, the company collaborated with Du Pont to provide hemlock pulp for rayon production. Upon going public in 1937, it adopted the name Rayonier and expanded into the southeastern United States by opening a pulp mill in Fernandina Beach, Florida by 1939.
By 1944, Rayonier shifted its headquarters to New York City and significantly increased its land acquisitions throughout the Pacific Northwest after World War II. The establishment of the Rayonier Foundation in 1952 marked its commitment to community support. The mid-1950s saw the opening of international sales offices across Europe and Asia, alongside the construction of a new facility in Jesup, Georgia in 1954 that doubled production capacity by 1957.
After being acquired by ITT in 1968 and renamed ITT Rayonier, the Jesup plant grew to become the largest pulp mill worldwide by 1974. The headquarters moved to Stamford, Connecticut in 1978. Following the normalization of relations with China in 1979, Rayonier established an office in Beijing by 1985 and expanded its log trading operations to New Zealand by 1988. In 1992, it acquired substantial timberland holdings from the New Zealand government.
Rayonier separated from ITT in 1994 and resumed independent trading on the NYSE. In 1999, it purchased extensive timberland spanning Florida, Georgia, and Alabama and relocated its corporate headquarters to Jacksonville, Florida to better align with its operational base and workforce.
21st century
On January 1, 2004, Rayonier transitioned into a real estate investment trust (REIT). The company launched TerraPointe LLC in 2005 to oversee properties with development potential. Its acquisition in 2006 of land across six states expanded total holdings to significant acreage within both the U.S. and New Zealand. In March 2008, Rayonier acquired property in southwest Washington covering substantial acreage for $215 million from Sierra Pacific.
In March 2013, Rayonier divested its wood products segment—including mills located in Baxley, Swainsboro, and Eatonton, Georgia—to British Columbia’s International Forest Products (Interfor) for $80 million.
The following month, April 2013, saw Rayonier increase its ownership stake in the New Zealand joint venture Matariki Forestry Group from 26% up to 65% through a $140 million investment.
Establishment of Rayonier Advanced Materials
In June 2014, Rayonier underwent a division resulting in the formation of two separate entities: Rayonier Advanced Materials (NYSE: RYAM), which specializes in performance fibers, and Rayonier, Inc., which remains a REIT focused on managing forest assets and real estate holdings. David L. Nunes assumed the role of CEO at Rayonier, Inc. On June 27, 2014, shareholders were issued one share of Rayonier Advanced Materials for every three shares they held in Rayonier.