Welcome to our dedicated page for Rayonier Advanced Matls news (Ticker: RYAM), a resource for investors and traders seeking the latest updates and insights on Rayonier Advanced Matls stock.
Rayonier Advanced Materials Inc. reports on a cellulose and derivatives business that produces specialty cellulose, viscose pulp, fluff pulp, high-yield pulp, paperboard, biofuels, bioelectricity and lignin from wood fiber. Company news commonly covers quarterly operating results, pricing and volume trends, debt and leverage measures, segment reporting changes, and demand conditions in end markets such as filters, food, pharmaceuticals, high-performance plastics, propellants and industrial applications.
Updates also address manufacturing activity across operations in the United States, Canada and France, including facility events, capital-allocation decisions, strategic-review disclosures, leadership transitions and investor presentations.
Rayonier Advanced Materials (RYAM) reported a net loss of $25 million for Q1 2022, an improvement from a $27 million loss in Q1 2021. Adjusted EBITDA from continuing operations was $20 million, down $12 million year-over-year, impacted by higher input costs from inflation and lower sales volumes. Despite these challenges, RYAM remains optimistic, implementing a cost surcharge to offset inflation and expecting improved EBITDA in Q2. Strong demand for high purity cellulose and paperboard products is anticipated to drive sales, with strategic maintenance outages aimed at boosting productivity.
Rayonier Advanced Materials (RYAM) has sold 28,684,433 common shares of GreenFirst Forest Products for approximately $43.3 million to Interfor Corporation's subsidiary. This sale includes a Purchase Price Protection clause allowing RYAM to benefit from future stock price increases under specific conditions. The company plans to utilize the proceeds primarily to repay debt, particularly its Senior Notes due on June 1, 2024. With annual revenues around $1.4 billion, Rayonier focuses on cellulose-based technologies and operates in the U.S., Canada, and France.
Rayonier Advanced Materials (RYAM) will announce its first quarter 2022 earnings on May 3, 2022, after market close. A conference call is scheduled for 9:00 a.m. EST on May 4, 2022 to discuss the results, with access available on their website. The company is a leader in cellulose-based technologies, generating approximately $1.4 billion in revenue and employing over 2,500 individuals across operations in the U.S., Canada, and France.
Rayonier Advanced Materials (RYAM) reaffirms its commitment to stockholders, encouraging votes for its board nominees amidst Chatham Asset Management's proposals. The board believes current refinancing proposals from Chatham are unfavorable and is confident in securing better terms for its Senior Notes due in 2024. The company aims to enhance stockholder value by optimizing its biorefineries and managing supply chain challenges. The annual meeting is set for May 16, 2022, to elect three new board members, enhancing the board's diversity and expertise.
Chatham Asset Management, a substantial shareholder of Rayonier Advanced Materials (RYAM), plans to withhold votes against directors Thomas I. Morgan and Lisa M. Palumbo during the annual meeting on May 16, 2022. Chatham, owning approximately 6.3% of RYAM, expresses concerns over poor stock performance and Board engagements. They criticize management's failure to quickly address debt maturities and compensation misalignments. Chatham calls for Board accountability after years of value destruction, highlighting a troubling 21% decline in stock price since asset sales.
Rayonier Advanced Materials Inc. (NYSE: RYAM) announced that its fluff pulp has achieved the 'Inspected Raw Material' status by Nordic Swan Ecolabelling. This certification indicates compliance with stringent environmental manufacturing standards, highlighting RYAM's commitment to sustainability. With an annual production capacity of 245,000 tons, RYAM's fluff pulp will allow consumers to identify eco-friendly products, enhancing marketability in absorbent hygiene markets. This recognition is a significant milestone in RYAM’s BioFuture initiative to promote sustainable, environmentally-friendly practices.
Chatham Asset Management, which owns approximately 6.3% of Rayonier Advanced Materials (RYAM), has urged the company's Board to engage in discussions regarding its proposed refinancing of the 5.50% Senior Notes maturing June 1, 2024. In a letter, Chatham expressed skepticism about the Board's confidence in obtaining future refinancing under better market conditions, criticizing the adoption of a poison pill as a defensive tactic against accountability. Chatham argues that its refinancing terms would benefit all shareholders and calls for the Board to act swiftly to de-risk the Company's balance sheet.
Rayonier Advanced Materials Inc. (NYSE: RYAM) announced a cost surcharge of USD 146 per metric ton for its cellulose specialties and viscose-grade products, effective April 1, 2022. This surcharge is a response to escalating inflation and rising costs in energy, logistics, chemicals, and wood. The company aims to maintain its product and service quality amid these challenges. Senior VP Joshua Hicks emphasized the need for this surcharge due to ongoing cost increases while assuring continued communication with customers.
Rayonier Advanced Materials Inc. (NYSE:RYAM) has rejected the refinancing proposal from Chatham Asset Management, determining it is not in the best interest of the company or its shareholders. Chatham proposed restructuring the company's Senior Notes, which would require significant cash and shift to higher coupon bonds. The company, confident in its liquidity and future refinancing options, intends to focus on strategic investments while monitoring market conditions for better opportunities. The company also aims for improved EBITDA despite facing inflation and supply chain issues.
Rayonier Advanced Materials Inc. (NYSE:RYAM) has adopted a limited duration stockholder rights plan to protect investor interests against rapid share accumulation without fair compensation. This decision follows unusual trading activity and a significant stake increase by Chatham Asset Management. The rights plan, effective immediately, becomes exercisable if any individual or group acquires 10% of the company's shares, ensuring the Board has time to assess control attempts. The plan is valid for 364 days and aims to enhance stockholder value.