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Rayonier Sale
Wednesday, 23 January 2013

January 23--  The Savannah Morning News reports Rayonier is selling its nearby operations.

"Global forest products company Rayonier announced today that it has reached an agreement to sell all assets of its wood product business, headquartered in Baxley, to International Forest Products Limited – or Interfor - for $80 million. The sale, expected to close this quarter, will result in an after-tax gain of approximately $40 million.

Rayonier's wood products business consists of three lumber mills located in Baxley, Swainsboro and Eatonton. As part of the transaction, Interfor has agreed to hire all 260 current wood products employees.

The three mills contributed approximately $10 million in operating income to Rayonier in 2012."

 

 
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