Rayonier Advanced Materials Acquires Tembec Inc.
JACKSONVILLE, Fla. and MONTREAL - November 20, 2017 - Rayonier Advanced Materials has announced today that 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. In addition, the combined company offers enhanced new product development capabilities, a broader and more versatile asset base, and the financial strength to invest back into its businesses for continued growth.
“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,” says 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.”
As the president and CEO of the newly combined company, Paul Boynton would like to introduce himself to the former Tembec customers. "On behalf of our entire management team, we look forward to serving Tembec customers with the great customer service you have come to expect and bringing you additional value through our integration," he explains. "We hope that you will find that our newly combined company will demonstrate our world-class capabilities across all of our business lines and that our future relationship will be better than ever."
While the transaction is final today, Rayonier is already engaged in a year-long process to fully integrate the business into one cohesive unit. "We don’t expect that there will be any changes to your company contacts, but we will inform you as soon as possible if there are. In the meantime, please continue to rely on your normal support team for sales, customer service or technical support issues," notes Boynton.
"Finally, I would like to thank you for your support over the last five months as we moved through this process. We look forward to serving your company as a more robust and capable supplier."
The preceding press release was provided by a company unaffiliated with Printing Impressions. The views expressed within do not directly reflect the thoughts or opinions of Printing Impressions.