Rayonier Advanced Materials (RYAM) Announces Resumption of Fernandina Beach Facility Ops; Doesn't Expect Impact
- S&P, Dow fall with health stocks; Microsoft lifts Nasdaq
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
- General Electric (GE) Tops Q3 EPS by 2c; Updates FY16 EPS Outlook
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial 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
- UPDATE: Honeywell (HON) Reports In-Line Q3 EPS; Issues Q4 EPS outlook
- Flowers Foods (FLO) Refutes Analyst Commentary on Legal Standing
- 1st Constitution Bancorp (FCCY) Tops Q3 EPS by 8c
Create E-mail Alert Related CategoriesCorporate News, Guidance, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!