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Stock Market & Financial Investment News

News Breaks
June 30, 2014
08:42 EDTRYAMRayonier Advanced Materials initiated with a Buy at DA Davidson
Target $53.
News For RYAM From The Last 14 Days
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July 30, 2015
11:23 EDTRYAMRayonier Advanced Materials announces strategic repositioning
Rayonier Advanced Materials announced a $25M investment to better align assets to current market conditions, improve operating efficiency and increase commodity throughput. In response to the persistent imbalance of supply and demand in the cellulose specialties market, the company will reconfigure its asset base to modify its 190,000 ton C-line at the Jesup plant for the permanent production of commodity products, specifically fluff and viscose. Certain assets that were installed on the C-line during the cellulose specialties expansion will be repositioned to the A-line to replace less efficient equipment. Upon completion in the first quarter of 2016, the company’s overall cellulose specialties capacity will be reduced by 190,000 tons, or 28%, while its annual fluff and viscose production capacity will increase by approximately 11% to 245,000 tons annually. The company's strategic repositioning is expected to reduce costs by approximately $14M annually, in part driven by a reduction of 43 manufacturing positions, and requires a one-time, non-cash write-off of $28M related to abandoned assets.
11:21 EDTRYAMRayonier Advanced Materials backs FY15 pro forma EBITDA view of $210M-$225M
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11:20 EDTRYAMRayonier Advanced Materials reports Q2 pro forma EPS 39c, consensus 26c
Reports Q2 revenue $221M, consensus $216.22M.

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