Rayonier Advanced Materials (RYAM) Announces Resumption of Fernandina Beach Facility Ops; Doesn't Expect Impact

October 10, 2016 9:04 AM EDT
Get Alerts RYAM Hot Sheet
Trade RYAM Now!
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.

Rayonier Advanced Materials Inc. (NYSE: RYAM) provided an update today about operations following Hurricane Matthew, which affected the entire US Southeastern coast, passing near the Company’s Fernandina Beach, Fla. facility. The facility was in the process of completing its scheduled maintenance outage ahead of plan and was safely evacuated on October 6 in advance of the storm. Yesterday, Company operations management confirmed the facility was not affected by the storm except some minor issues. The startup process began immediately, consistent with the original maintenance outage schedule. The Company’s Jesup, Ga. facility continued to operate safely throughout the storm.

"I am pleased to report that all of our employees and their families managed safely through this 100-year hurricane event,” stated Paul Boynton, Chairman, President and CEO of Rayonier Advanced Materials. “The significant planning and coordination demonstrated by the Rayonier Advanced Materials teams to secure our assets and safely maintain our operations was impressive.”

The Company does not anticipate the storm to have an impact on its financial outlook and expects limited customer disruption. A full update on third quarter earnings and operations will be provided on the next earnings call on November 1.

“While we were able to escape this storm with minimal disruption, we recognize that many of our friends and neighbors were not as fortunate; our thoughts and concerns are with their families as they recover from the storm,” concluded Paul Boynton. “We are thankful to all our employees and their families for their efforts and dedication during this historic event. Their perseverance has allowed us to maintain safe operations and continue to serve our customers with the quality products they expect.”

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Guidance, Management Comments

Related Entities


Add Your Comment