Rayonier announced that the U.S. Securities and Exchange Commission has declared effective the Registration Statement on Form 10 filed by Rayonier Advanced Materials in connection with the spin-off. Additionally, the company announced that it also received a private letter ruling from the U.S. Internal Revenue Service (IRS) confirming the tax-free status of the planned spin-off, including certain related internal reorganization transactions.
“With these latest developments, we are now firmly on track to separate effective June 27,” said Paul Boynton, Chairman, President and CEO. “This has been a complex endeavor, requiring significant effort throughout the company. Thanks to the tremendous effort of our employees, as well as our advisors, we will soon be two independent, industry-leading companies that will continue to deliver value to our shareholders.”
Rayonier Advanced Materials will be the world’s leading producer of high-value specialty cellulose fibers, with proprietary cellulose chemistry expertise and manufacturing process knowledge developed over 85 years.
