Rayonier Advanced Materials Announces Third Quarter 2021 Results
*Sale of lumber and newsprint assets for approximately $232 million; estimated gain on sale of $6 million, net of tax *Retired $127 million of senior unsecured debt; additional $25 million of senior secured debt repaid in October *Expect significant price increases on the majority of cellulose specialties contracts in 2022 *Net loss from continuing operations was $13 million, $26 million unfavorable to the comparable period in 2020, driven by income tax benefit recorded in the prior year *Targeting EBITDA margin growth focused on lowering cost, improving reliability, executing strategic projects and funding attractive innovation initiatives