Rayonier Divests Lumber, Newsprint Businesses

Rayonier Advanced Materials Inc., a manufacturer of products for lumber, paper, and packaging markets, will sell its lumber and newsprint facilities and related assets in Ontario and Quebec to GreenFirst Forest Products Inc., a Canadian lumber company. The assets include six lumber mills and one newsprint mill. The lumber mills produce a wide range of forest products used in residential and commercial construction, including dimensional lumber, wood chips, and by-products. The two company have agreed to a 20-year residual fibre supply agreement to meet the continued fibre sourcing needs of Rayonier’s operations in Temiscaming, QC.