Rayonier Advanced Materials settles dispute and enters new agreement with Eastman Chemical

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Rayonier Advanced Materials settles dispute and enters new agreement with Eastman Chemical

November 30, 2015 - 20:52
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JACKSONVILLE, FL, Dec. 1, 2015 (Business Wire) -Rayonier Advanced Materials Inc. (RYAM) announced today that the Company and Eastman Chemical Company, its largest customer, have settled their legal dispute and entered into a new cellulose specialties purchase and sale agreement that extends through December 31, 2019.

"For over 85 years we have worked closely and collaboratively with Eastman. We are pleased to have resolved our differences and entered into a new contract that continues our long and valued relationship through 2019,” stated Paul Boynton, Chairman, President and CEO of Rayonier Advanced Materials. “We look forward to contributing to Eastman's continued success for many years to come."

Consistent with the Company’s customary practice, it expects to discuss aggregate pricing and volume estimates for the coming year on the Company’s next earnings call in early February.

About Rayonier Advanced Materials

Rayonier Advanced Materials is the leading global supplier of high-purity, cellulose specialties natural polymers for the chemical industry. Working closely with its customers, the Company engineers natural polymeric chemical chains to create dozens of customized high-purity performance fibers at its plants in Florida and Georgia. Rayonier Advanced Materials' intellectual property and manufacturing processes have been developed over 85 years, resulting in unique properties and very high quality and consistency. Upon completion of the previously announced strategic realignment of assets in Jesup, the Company's facilities will have the capacity to produce approximately 485,000 tons of cellulose specialties for use in a wide range of industrial and consumer products such as filters, cosmetics and pharmaceuticals and approximately 245,000 tons of commodity products. Rayonier Advanced Materials is consistently ranked among the nation’s top 50 exporters and delivers products to 79 ports around the world, serving customers in 20 countries across five continents.