Rayonier completes acquisition of Tembec
By P&PC Staff
By P&PC Staff
Dec. 5, 2017 – Rayonier Advanced Materials Inc. says it has completed the acquisition of Tembec Inc., combining two complementary high purity cellulose businesses and diversifying its product offerings with integrated forest products, paper, paperboard and newsprint businesses.
The combined company, which will operate under the name Rayonier Advanced Materials, will be a “stronger, more diversified global leader in its core businesses with an expanded international footprint that further positions it to serve the larger customer base with the highest quality products and services,” according to a company statement.
“This acquisition advances our strategic growth objectives and provides an accretive and attractive value proposition for our shareholders by more than doubling our revenues, diversifying our product offering in high purity cellulose and allowing us to expand into new adjacent businesses,” said Paul Boynton, chairman, president and CEO of Rayonier Advanced Materials. “Rayonier Advanced Materials and Tembec are not only a good strategic fit, but we are also an excellent cultural fit. We are excited to welcome the Tembec employees to Rayonier Advanced Materials as we continue to execute on our four strategic pillars of growth.”