RYAM Engages Houlihan Lokey to Explore Sale of Paperboard and High-Yield Pulp Assets
13 Octubre 2023 - 3:30PM
Business Wire
Rayonier Advanced Materials Inc. (NYSE: RYAM) (the “Company”),
the global leader in High Purity Cellulose, today announced that it
has engaged Houlihan Lokey as its financial advisor to explore the
potential sale of its paperboard and high-yield pulp assets located
at its Temiscaming site.
This strategic move is aligned with RYAM's commitment to
enhancing its operational and financial performance, optimizing its
portfolio to align with its long-term growth strategy, and
providing flexibility to pay down debt and reduce leverage. The
engagement of Houlihan Lokey, a renowned global investment bank,
underscores RYAM's dedication to a rigorous and diligent evaluation
of its strategic options.
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.
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Media Ryan Houck, 904-357-9134 Investors Mickey Walsh,
904-357-9162
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