Rayonier Advanced Materials : AR Financial Results (202538 2024 Annual Report Final for webhosting)

Published: 2025-03-31 10:21:05 ET RYAM

Dear Fellow Stockholders,

The year 2024 marked a transformative chapter in our journey at RYAM, with remarkable achievements and strategic milestones that position us for an even brighter future. Your trust and support have been instrumental in this success, and it is our pleasure to share with you the highlights of the past year and the exciting opportunities ahead.

A Year of Strong Performance

In 2024, RYAM delivered outstanding financial results, showcasing the strength and resilience of our business. Adjusted EBITDA grew by an impressive 60%, from $139 million in 2023 to $222 million in 2024. We translated these earnings into robust cash flow, achieving $128 million in Adjusted Free Cash Flow and reducing net secured debt by $73 million. By year-end, our net secured leverage ratio stood at 2.7 times covenant EBITDA, keeping us on track to meet our 2027 target of 2.5 times.

These financial gains were complemented by strategic investments of $33 million in three key areas: biomaterials expansion, quick-return operational projects, and corporate systems. These investments underline our commitment to operational excellence, disciplined growth, and innovation, all of which are central to our long-term strategy.

Strengthening Our Core Business

In our High Purity Cellulose (HPC) business we continued to execute our "Value over Volume" strategy. The closure of a competitor's facility in late 2023 and our decision to indefinitely suspend operations at the Temiscaming HPC plant in 2024 removed approximately 10% of total industry capacity. These actions improved the industry's supply-demand dynamics and shifted our High Purity sales mix away from commodity products, expanding EBITDA margins by over 500 basis points to 13.6%, and reinforcing our confidence in achieving our 2027 enterprise EBITDA target of $325 million.

Pioneering Biomaterials Innovation

Our vision for biomaterials took significant strides forward in 2024. Building on the comparative advantages of our global infrastructure and operational synergies, we intensified our focus on renewable, high-value solutions for environmentally-conscious customers. Our France bioethanol plant became operational in 2024, and the bioethanol plant at Fernandina Beach advanced toward its permitting and engineering milestones. Our renewable energy project development entity, Altamaha Green Energy, secured a 30-year Power Purchase Agreement with Georgia Power Company, setting the stage for renewable energy innovation.

To accelerate the funding of our biomaterials strategy, we established RYAM BioNova S.A.S., attracting a €30 million strategic investment for a 20% stake, valuing the venture at $180 million. RYAM BioNova has also raised project debt at attractive pricing to largely fund the biomaterial projects to be implemented over the next couple of years.

The momentum in biomaterials underscores its potential as a cornerstone of our growth strategy-driving revenue, margin expansion, and sustainability.

Financial Discipline and Operational Excellence

Our commitment to strengthening the balance sheet and enhancing operational efficiency remained unwavering in 2024. We refinanced our senior secured debt, extending maturities to 2029 and introducing terms that provide flexibility to support future growth. Additionally, we unlocked $39 million in value by selling softwood lumber duties, channeling proceeds toward debt reduction.

Parallel to these efforts, we invested in high-return operational projects and advanced our cost optimization initiatives. These measures bolster our financial resilience and ensure sustainable growth as we pursue our strategic goals.

Fostering a Culture of Safety and Sustainability

At RYAM, safety and sustainability are at the heart of our operations. In 2024, we reduced our injury incident rate by 30%, reflecting our unwavering commitment to a zero-injury workplace. When an isolated fire occurred at our Jesup, Georgia facility in October, our team's heroic response ensured that no injuries were sustained, and normal operations resumed within two weeks.

We are also dedicated to environmental stewardship and believe we are positioned well to achieve our goal to cut greenhouse emissions by 40% by 2030. In 2023, we further reduced our greenhouse gas emissions by 7% on an absolute basis, bringing our cumulative decrease since 2020 to 21%. Our 2023 Sustainability Report highlights this and other achievements, reinforcing our commitment to responsible corporate citizenship.

Looking Ahead

As we step into 2025, RYAM is well-positioned to build on our achievements, drive innovation, and deliver sustainable growth. The remarkable rebound in our stock price during 2024 reflects the market's confidence in our transformation and future potential.

On behalf of the Board of Directors and the executive team, we extend heartfelt thanks to our employees for their dedication and ingenuity, and to you, our stockholders, for your continued faith in our vision. Together, we will advance RYAM on its journey to create long-term value, guided by discipline, innovation, and sustainability.

Thank you for being part of this exciting journey.

Sincerely,

Independent Chair of the Board of Directors

Lisa M. Palumbo

De Lyle W. Bloomquist

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

(Mark One)

☒

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2024 or

☐

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number 001-36285

RAYONIER ADVANCED MATERIALS INC.

State of Incorporation: Delaware

I.R.S. Employer Identification No.: 46-4559529

Principal Executive Office:

1301 Riverplace Boulevard, Suite 2300

Jacksonville, FL 32207

Telephone Number: (904) 357-4600

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of exchange on which registered

Common stock, par value $0.01 per share

RYAM

New York Stock Exchange

Securities to be registered pursuant to Section 12(g) of the Act: None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☐

Accelerated filer

☒

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒ Aggregate market value of the common stock of the registrant held by non-affiliates as of June 29, 2024: $345,496,271.

Number of shares of the common stock of the registrant outstanding as of March 4, 2025: 65,966,881.

Portions of the registrant's definitive proxy statement for the 2025 annual meeting of the stockholders, which is expected to be filed with the Securities and Exchange Commission within 120 days after December 31, 2024, are incorporated by reference into Part III of this 2024 Form 10-K.

Table of Contents

Page

Part I

Item 1. Business

Item 1A. Risk Factors

Item 1B. Unresolved Staff Comments

Item 1C. Cybersecurity

Item 2. Properties

Item 3. Legal Proceedings

Part II

Item 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity

Securities

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7A. Quantitative and Qualitative Disclosures about Market Risk

Item 8. Financial Statements and Supplementary Data

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9A. Controls and Procedures

Item 9B. Other Information

Item 9C. Disclosure regarding Foreign Jurisdictions that Prevent Inspections

Part III

Item 10. Directors, Executive Officers and Corporate Governance

Item 11. Executive Compensation

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 13. Certain Relationships and Related Transactions, and Director Independence

Item 14. Principal Accounting Fees and Services

Part IV

Item 15. Exhibits and Financial Statement Schedules

Signatures

Glossary

The following terms and abbreviations appearing in the text of this 2024 Form 10-K have the meanings indicated below.

2023 Plan

RYAM 2023 Incentive Stock Plan

2024 Form 10-K

RYAM Annual Report on Form 10-K for the year ended December 31, 2024

2024 Notes

$550 million original aggregate principal amount of 5.50 percent senior unsecured notes

issued May 2014, due June 2024

2026 Notes

$500 million original aggregate principal amount of 7.625 percent senior secured notes issued

December 2020, due January 2026

2027 Term Loan

$250 million original aggregate principal amount of variable rate term loan entered into July

2023, maturing July 2027

2029 Term Loan

$700 million original aggregate principal amount of variable rate term loan entered into

October 2024, maturing October 2029

Second generation

ABL Credit Facility

$175 million 5-year senior secured asset-based revolving credit facility, as amended,

maturing November 2029

AGE

Altamaha Green Energy LLC

AICPA

American Institute of Certified Public Accountants

Anomera

Anomera, Inc.

AOCI

Accumulated other comprehensive income (loss)

ASU

Accounting Standards Update

ATI

Adjusted taxable income

BioNova

RYAM BioNova S.A.S., a French simplified joint-stock company and a newly-formed

subsidiary in which SWEN holds a redeemable noncontrolling interest

BioNova Term Loan

€37 million aggregate principal amount of variable rate term loans entered into November

2024, maturing November 2031 and November 2032

BNP

BNP-Paribas Factor

Basis point

CAD

Canadian dollar

CEO

Chief Executive Officer

CERCLA

Comprehensive Environmental Response, Compensation and Liability Act of 1980

CEWS

Canada Emergency Wage Subsidy

CNC

Carboxylated cellulose nanocrystals

CODM

Chief Operating Decision Maker

COVID-19

Coronavirus pandemic

DTA

Deferred tax asset

EBIT

Earnings before interest and taxes

EBITDA

Earnings before interest, taxes, depreciation and amortization

ECD

Early Career Development

ERP

Enterprise resource planning

Euribor

Euro Interbank Offered Rate

Exchange Act

Securities Exchange Act of 1934, as amended

FASB

Financial Accounting Standards Board

Financial Statements

Consolidated financial statements included in Part IV Item 15 of this 2024 Form 10-K

FTC

Foreign tax credit

GAAP

United States generally accepted accounting principles

Georgia EPD

Georgia Environmental Protection Division of the Natural Resources

GHG

Greenhouse gas

GILTI

Global intangible low-taxed income

GreenFirst

GreenFirst Forest Products, Inc.

ISCC EU

International Sustainability & Carbon Certification in the European Union

ISCC PLUS

International Sustainability & Carbon Certification covering the same certification

requirements as ISCC EU but customizable by market or specific application

LTF

LignoTech Florida LLC

Metric ton

NOL

Net operating loss

NOx

Nitrogen oxides

OPEB

Other post-employment benefits

Prior Incentive Stock Plans

Rayonier Advanced Materials Inc. Incentive Stock Plan, Rayonier Advanced Materials Inc.

2017 Incentive Stock Plan and Rayonier Advanced Materials Inc. 2021 Incentive Stock Plan

Proxy Statement

RYAM Proxy Statement to be filed with the SEC in connection with the solicitation of

proxies for RYAM's 2025 Annual Meeting of Stockholders

R&D

Research and development

RCRA

Resource Conservation and Recovery Act

ROU

Right-of-use

RYAM, the Company, our,

Rayonier Advanced Materials Inc. and its consolidated subsidiaries

we, us

S&P

Standard & Poor's

SEC

United States Securities and Exchange Commission

Securities Act

Securities Act of 1933, as amended

SG&A

Selling, general and administrative expense

SOFR

Secured Overnight Financing Rate

SOx

Sulfur oxides

SR&ED

Scientific research and experimentation deductions

SWEN

SWEN Impact Fund for Transition 3

TSA

Transition Services Agreement

TSR

Total shareholder return

U.S.

United States of America

USD

United States of America dollar

USDOC

United States Department of Commerce

Washington Ecology

Washington State Department of Ecology

Washington MTCA

Washington Model Toxics Control Act

iii

Forward-Looking Statements

Certain statements in this 2024 Form 10-K regarding anticipated financial, business, legal or other outcomes, including business and market conditions, outlook and other similar statements relating to future events, developments or financial or operational performance or results, are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are identified by the use of words such as "may," "will," "should," "could," "expect," "estimate," "target," "believe," "intend," "plan," "forecast," "anticipate," "project," "guidance" and other similar language. However, the absence of these or similar words or expressions does not mean that a statement is not forward-looking.

Forward-looking statements are not guarantees of future performance or events and undue reliance should not be placed on these statements. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that these expectations will be attained, and it is possible that actual results may differ materially from those indicated by these forward-looking statements due to various risks and uncertainties. The risk factors contained in Item 1A-Risk Factors of this 2024 Form 10-K, among others, could cause actual results or events to differ materially from our historical experience and those expressed in forward-looking statements made in this 2024 Form 10-K.

Forward-looking statements are only as of the date of the filing of this 2024 Form 10-K and we undertake no duty to update these forward-looking statements except as required by law. You are advised to review any disclosures that we make on or after the date of this 2024 Form 10-K in our filings and other submissions to the SEC, including those on Forms 10-K, 10-Q, 8-K and other reports.

Part I

Item 1. Business

We are a global leader in the production of cellulose specialties, a natural polymer used in the manufacturing of various specialty chemical products, including liquid crystal displays, filters, textiles and performance additives for pharmaceutical, food and other industrial applications. Building upon nearly 100 years of experience in cellulose chemistry, we provide some of the highest quality high-purity cellulose pulp products that make up the essential building blocks for our customers' products while providing exceptional service and value. RYAM's specialized assets also produce bioelectricity, biomaterials, including biofuels, lignin and tall oil soap, and commodity fluff, viscose and paper pulp.

Additionally, we produce a unique, lightweight multi-ply paperboard product and a bulky, high-yield pulp product. Our paperboard is used for production in the commercial printing, lottery ticket and high-end packaging sectors. Our high-yield pulp is used by paperboard producers as well as in traditional printing, writing and specialty paper manufacturing.

Our Sustainability Profile

Sustainability is at the core of our business model and guides every aspect of our strategy and operations.

Operations

We operate four production facilities strategically located in the U.S., Canada and France.

The manufacturing of all of our products begins with trees sourced from working forests. Working forests are instrumental to maintaining environmental health, including the crucial role they play in carbon sequestration. All of our production facilities adhere to the EPA's Best Management Practices and hold certification in both the Forest Stewardship Council and Programme for the Endorsement of Forest Certification Chain of Custody standards. We believe this dual certification reinforces our dedication to responsible forestry practices throughout our manufacturing processes.

Our Fernandina Beach and Tartas facilities are ISCC PLUS and ISCC EU certified, respectively, underscoring our commitment to independently audited sustainability standards and processes within our supply chain.

Our fluff pulp, produced at our Jesup facility, carries the distinction of being certified as an "Inspected Raw Material" by Nordic Swan Ecolabeling. This label signifies adherence to environmental requirements at every stage of manufacturing.

We frequently monitor and pursue additional opportunities for sustainability in our manufacturing processes. We have achieved several key advancements in our processes with the aim of reducing chemical usage, improving energy efficiency and minimizing our CO2 emissions and environmental footprint. Examples include the optimization of acid usage, transitioning to rail delivery for H2O2 and refinements of product formulations. In addition, in our ongoing efforts to reduce chemical usage we have also introduced Maple 80, a new product manufactured without EDTA, a common chelating agent, which served to decrease our chemical reliance.

In 2021, we set an ambitious goal of achieving at least a 40 percent reduction in overall Scope 1 and Scope 2 GHG emissions, on both an absolute and intensity basis, by 2030, using 2020 as a baseline. We are on track to meet this objective, with external verification confirming total reductions of 21 percent and 14 percent in absolute and intensity emissions, respectively, through 2023. Our 2024 results are pending confirmation.

Energy

Our facilities are energy intensive; however, nearly 78 percent of the energy consumed by them is derived from renewable sources, primarily biomass. We do not harvest living trees directly for energy production, but rather use production process biomass residuals or waste to generate energy in our facilities. The remaining energy consumed is primarily sourced from natural gas.

Water

Water is utilized during various stages of our production cycle, including wood chip digestion, pulp washing and screening and fiber handling and transportation. Water is also necessary for steam and on-site power generation, air emissions control, process cooling and equipment cleaning. Each gallon of water consumed at our facilities is reused multiple times in our process. Over 90 percent of the total water withdrawn at our facilities is returned to natural water sources after undergoing rigorous treatment, in keeping with stringent government-issued permit limitations. The remaining amounts are either captured in the final product or evaporated during manufacturing.

Waste

Our facilities are designed to minimize waste. We recycle our pulping chemicals, produce environmentally friendly co-products from tree material, and generate energy from biomass residuals. We also take special care to limit our generation of hazardous or dangerous wastes through source reduction, reuse and recycling. We seek to meet or exceed all waste management standards and expectations of each country in which we operate. Each facility has ongoing relationships with local recyclers, and we strive to reuse or recycle as much as possible. Certified waste handlers dispose of any hazardous waste.

Product Safety

We prioritize safety and regulatory compliance in our product development. Our high purity cellulose is derived from the treatment of wood fiber with aqueous solutions of pulping and bleaching chemicals. This process yields materials such as cellulose, hemicellulose, lignin and other extractives. Pulp cellulose has been classified by the U.S. Environmental Protection Agency as a Green Circle chemical with a low safety concern based on experimental and modeled data, and it is considered non-hazardous according to the Occupational Safety and Health Administration Hazard Communication Standard. We proactively ensure compliance with stringent international safety regulations, including the U.S. Food and Drug Administration approval for food contact materials, European Registration, Evaluation, Authorisation and Restriction of Chemicals standards and the European Union's genetically modified organisms directive.

We maintain stringent safety measures to manage chemical usage responsibly throughout our manufacturing processes. Our ISO 9001-certified quality management system is used to analyze and improve our operations. We maintain a rigorous chemical approval process to ensure safety and regulatory compliance.

Strategic Growth Investments

We focus our strategic investments on projects that optimize and align our assets to meet the ever-growing demand for renewable products. Our portfolio is aligned with sustainability drivers, including the European Union Green Deal for the Renewable Energy Directive II. Our ongoing projects include:

• Production of 2G bioethanol fuel at our France facility, intended to help meet the demand for Europe's fast-growing biofuels market and further improve the sustainability of our operating model. With production commencing in the first quarter of 2024, we are among the first in France to produce wood-based 2G bioethanol, a renewable fuel made from non-food-based biomass that is not competitive to the human food supply and that reduces GHG emissions by up to 90 percent compared to traditional fossil fuels.

• Production of 2G bioethanol fuel at our Fernandina facility, a multi-year project expected to deliver carbon benefits comparable to our France bioethanol facility, with potential applications in additional market segments, including as a feedstock for sustainable aviation fuel.

• Involvement in AGE, a start-up entity that aims to utilize renewable forestry waste and other biomass generally discarded as waste to generate green electricity for the state of Georgia from a new facility to be constructed adjacent to our Jesup plant. While still in the development phase, the project achieved a significant milestone when AGE was recently awarded a Purchase Power Agreement to sell electricity to Georgia Power Company, which allows AGE to continue evaluating the construction and financing requirements. The multi-year project offers significant potential long-term benefits to RYAM.

• Development of a prebiotic for poultry and swine at our Jesup facility, which is expected to support sustainable poultry and swine farming and provide a healthy alternative nutrient to enhance gut health. We have submitted notice of our Generally Recognized as Safe self-certification for our prebiotics product to the U.S. Food and Drug Administration.

Our strategic investment approach unlocks the capabilities of our facilities and capitalizes on the sustainably harvested trees that we use as our primary feedstock.

Our Business

Before June 27, 2014, we consisted of Rayonier Inc.'s wholly-owned performance fibers business, which was primarily engaged in producing cellulose specialties. On that date, we separated from Rayonier Inc. and started our business as an independent, publicly traded company. In November 2017, we acquired Tembec Inc., a manufacturer of cellulose specialties, lumber, paperboard, newsprint and high-yield pulp.

In August 2021, we sold the lumber and newsprint assets acquired in the Tembec acquisition. As a result of this sale, the operating results of the lumber and newsprint operations are presented as discontinued operations in our Financial Statements. See Note 4-Discontinued Operations to our Financial Statements for further information.

For the years presented in this 2024 Form 10-K, we operated the following operating segments:

• High Purity Cellulose

• Paperboard

• High-Yield Pulp

See Note 21-Segment and Geographical Information to our Financial Statements for further information on this operating segment structure in place as of December 31, 2024.

Beginning in January 2025, we reorganized our High Purity Cellulose operating segment as a result of changes in our internal operating model, significant developments in our Biomaterials strategy (see Note 2-Significant Accounting Policies and Recent Accounting Developments-Redeemable Noncontrolling Interest and Note 10-Debt and Finance Leases to our Financial Statements for information regarding our newly-formed subsidiary, BioNova, and important financing milestones reached) and a successful enterprise reporting system launch that significantly enhances our financial reporting capabilities. Specifically, we determined, in light of these new developments and capabilities, that the performance and outlook of the High Purity Cellulose business will be better managed as three separate businesses: Cellulose Specialties, Cellulose Commodities and a new Biomaterials business. No changes were made to the composition of the Paperboard and High-Yield Pulp operating segments.

In July 2024, we indefinitely suspended operations at our Temiscaming High Purity Cellulose plant. This plan is expected to mitigate high capital needs and operating losses related to exposure to commodity viscose products and improve our consolidated free cash flow. Our Temiscaming paperboard and high-yield pulp plants that support our Paperboard and High-Yield Pulp operating segments will continue to operate at full capacity while we continue to explore a potential sale of the Paperboard and High-Yield Pulp assets. We remain committed to pursuing a sale of these assets at a fair price. See Note 3- Indefinite Suspension of Operations to our Financial Statements for further information.

High Purity Cellulose

Our High Purity Cellulose operating segment, particularly cellulose specialties products, is the primary driver of our profitability. Cellulose specialties are natural polymers that are used as raw materials to manufacture a broad range of consumer-oriented products such as liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, cigarette filters, high-tenacity rayon tire cords and industrial hoses, food casings, paints and lacquers. We manufacture products tailored to our customers' precise and demanding chemical and physical specifications, achieving industry-leading purity and product functionality. Our ability to consistently manufacture high-quality cellulose specialties products results from our proprietary production processes, intellectual property and nearly 100 years of technical expertise and knowledge of cellulosic chemistry. We believe our end-use market diversity reduces our exposure to a potential global recession.

In addition to cellulose specialties, a significant portion of our production capacity is dedicated to manufacturing high-purity commodity products for absorbent materials and viscose applications. Absorbent materials, typically referred to as fluff, are used as an absorbent medium in products such as disposable baby diapers, feminine hygiene products, incontinence pads, convalescent bed pads, industrial towels and wipes and non-woven fabrics. Commodity viscose is a raw material required for the manufacture of viscose staple fibers which are used in woven applications, such as rayon textiles for clothing and other fabrics, and in non-woven applications, such as baby wipes, cosmetic and personal wipes, industrial wipes and mattress ticking. Cellulose specialties typically contain over 95 percent cellulose, while commodity products usually contain less than 95 percent cellulose.

Our specialized assets, capable of creating the world's leading high purity cellulose products, also produce bioelectricity and biomaterials, including biofuels, lignin and tall oil soap. Our 2G bioethanol facility in France, operational in the first quarter of 2024, for example, captures residual sugars from our existing pulp process, which we then use in the production of wood-based 2G bioethanol fuel.

Our three operating production facilities have a combined annual production capacity of 895,000 MTs of cellulose specialties and commodity products, excluding the 150,000 MTs capacity of the Temiscaming plant whose operations were indefinitely suspended in July 2024. Of our total annual capacity, we dedicate 270,000 MTs of annual production to commodity products, primarily fluff.

Disclaimer

Rayonier Advanced Materials Inc. published this content on March 31, 2025, and is solely responsible for the information contained herein. Distributed via , unedited and unaltered, on March 31, 2025 at 14:20 UTC.