RYAM to Temporarily Idle Production at its Paperboard and High-Yield Pulp Operations

Rhea-AI Summary

Rayonier Advanced Materials Inc. to idle Témiscaming Paperboard operation and High-Yield Pulp lines for 3 weeks

Positive

• The idling of the Témiscaming Paperboard operation and High-Yield Pulp lines is aimed at optimizing inventory levels and addressing lower-than-anticipated demand.

Negative

• The idling of the Témiscaming Paperboard operation and High-Yield Pulp lines may indicate a decrease in demand for Rayonier Advanced Materials Inc.'s products.

JACKSONVILLE, Fla.--(BUSINESS WIRE)-- Rayonier Advanced Materials Inc. (NYSE: RYAM) (the “Company”) is announcing that in order to optimize inventory levels and address lower-than-anticipated demand, its Témiscaming Paperboard operation and one of its High-Yield Pulp lines will be idled for 3 weeks, beginning on October 7, 2023. Customer orders will not be affected.

About RYAM

RYAM is a global leader of cellulose-based technologies, including high purity cellulose specialties, a natural polymer commonly found in filters, food, pharmaceuticals, and other industrial applications. The Company also manufactures products for paper and packaging markets. With manufacturing operations in the U.S., Canada, and France, RYAM employs just over 2,500 people and generated an estimated $1.7 billion of revenues in 2022. More information is available at www.RYAM.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’ or 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 that these expectations will be attained. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231006594614/en/

Media

Ryan Houck

904-357-9134

Investors

Mickey Walsh

904-357-9162

Source: Rayonier Advanced Materials Inc.

FAQ

Why is Rayonier Advanced Materials idling the Témiscaming Paperboard operation and High-Yield Pulp lines?

The idling is aimed at optimizing inventory levels and addressing lower-than-anticipated demand.

Will customer orders be affected by the idling?

No, customer orders will not be affected.