• Login
    • Join
  • Subscribe Free
    • Magazine
    • eNewsletter
    Checkout
    • Magazine
    • News
    • Exclusives
    • Applications
    • Technology
    • Market
    • Other
    • Top 40
    • Buyers Guide
    • Hygiene Directory
    • More
  • Magazine
  • News
  • Exclusives
  • Applications
  • Technology
  • Market
  • Other
  • Top 40
  • Buyers Guide
  • Hygiene Directory
  • Current / Back Issues
    Features
    Editorial
    Columns
    Digital Edition
    Southeast Asia Edition
    eNewsletter Archive
    Editorial Guidelines
    Subscribe Now
    Advertise Now
    Top Features
    Roofing & Construction Update

    Sustainability Efforts Continue

    Needlepunch Market Report

    Spunmelt Nonwovens Surge

    A Conversation with the Responsible Flushing Alliance
    Company Cameo
    Financial News
    Machinery Equipment
    New Products
    Nonwovens News
    Patent Review
    People in the News
    Supplier News
    Top News
    Live From Shows
    Top News
    First Quality to Discontinue Tampon Operations

    Jessup Installs New Era Coating and Laminating Line

    TMC Supplies Sevinçler with D-Namic Stacker and Bagger

    PCMC Redesigns Rx200 and Mako Clipper Wet Wipes Machines

    Honest Company Plans IPO
    Nonwovens Insights
    Online Exclusives
    Absorbent Core
    Adult Incontinence
    Antimicrobials
    Apparel
    Automotive and Transportation
    Chemicals / Adhesives
    Construction
    Contract Services
    Diaper, Baby
    Electronics
    Feminine Hygiene
    Fibers
    Filtration
    Flame Retardance
    Geotextile / Agrotextile
    Home Products
    Hygiene Film/Components
    Industrial / Institutional
    Inspection / Quality Control
    Machinery and Equipment
    Medical
    Wipes

    First Quality to Discontinue Tampon Operations

    Jessup Installs New Era Coating and Laminating Line

    PCMC Redesigns Rx200 and Mako Clipper Wet Wipes Machines

    Roofing & Construction Update

    Honest Company Plans IPO
    Air Through Bonding
    Airlaid
    Carded/Carding
    Chemical Bonded
    Composite
    Meltblown
    Needlepunch
    Nanotechnology
    Spunbond
    Spunlace
    Thermal Bonded
    Wetlaid

    Needlepunch Market Report

    Spunmelt Nonwovens Surge

    Mondi Starts Face Mask Production in Germany

    Meltblown—Nonwovens' Golden Fleece

    Armbrust Expands Product Line Up
    China
    Eastern Europe/Russia
    India
    Middle East/North Africa
    North America
    Pacific Rim
    South/Central America
    Turkey
    Western Europe

    Jessup Installs New Era Coating and Laminating Line

    ANEX+SINCE to be Held in July

    Kingsafe’s Growth Path

    Southeast Asia Nonwoven Capacity and Demand Development

    Jofo Focuses on Expansion
    Associations
    Contracts / Awards
    Education
    Facilities / Capacity
    Green / Sustainability
    Legal / Regulatory
    Market Data
    Mergers and Acquisitions
    Product Improvement / Innovation
    R&D/Basic Research
    Shows / Events

    Jessup Installs New Era Coating and Laminating Line

    Sustainability Efforts Continue

    Asia Wipes Summit Held Successfully in Shanghai

    European Nonwovens Production Exceeds 3 Million Tons

    INDEX Postponed to October
    Chart
    Companies
    All Companies
    Categories
    Company Profiles
    Add New Company
    International Buyers Guide Companies
    Fagus GreCon, Inc

    WEIMA America, Inc.

    Cellulose Solutions LLC.

    Alliance Machine and Engraving

    Mechanical Specialties, Inc.
    Brands
    Brand Owners
    • Magazine
      • Current / Back Issues
      • Features
      • Editorial
      • Columns
      • Digital Edition
      • Southeast Asia Edition
      • eNewsletter Archive
      • Editorial Guidelines
      • Subscribe Now
      • Advertise Now
    • Breaking News
    • Buyers Guide
      • All Companies
      • Categories
      • Company Profiles
      • Add Your Company
    • Applications
      • Absorbent Core
      • Adult Incontinence
      • Antimicrobials
      • Apparel
      • Automotive and Transportation
      • Chemicals / Adhesives
      • Construction
      • Contract Services
      • Diaper, Baby
      • Electronics
      • Feminine Hygiene
      • Fibers
      • Filtration
      • Flame Retardance
      • Geotextile / Agrotextile
      • Home Products
      • Hygiene Film/Components
      • Industrial / Institutional
      • Inspection / Quality Control
      • Machinery and Equipment
      • Medical
      • Wipes
    • Technology
      • Air Through Bonding
      • Airlaid
      • Carded/Carding
      • Chemical Bonded
      • Composite
      • Meltblown
      • Needlepunch
      • Nanotechnology
      • Spunbond
      • Spunlace
      • Thermal Bonded
      • Wetlaid
    • Market
      • China
      • Eastern Europe/Russia
      • India
      • Middle East/North Africa
      • North America
      • Pacific Rim
      • South/Central America
      • Turkey
      • Western Europe
    • Other
      • Associations
      • Contracts / Awards
      • Education
      • Facilities / Capacity
      • Green / Sustainability
      • Legal / Regulatory
      • Market Data
      • Mergers and Acquisitions
      • Product Improvement / Innovation
      • R&D/Basic Research
      • Shows / Events
    • Top 40 Companies
      • Chart
      • Companies
    • Online Exclusives
    • Hygiene Directory
      • Brands
      • Brand Owners
    • Slideshows
    • Experts Opinions
    • Videos
    • Podcasts
    • Infographics
    • Whitepapers
    • Jobs
    • Events
      • Industry Events
      • Live From Show Events
      • Webinars
      • Live From Asian Connections
    • Resources
      • Suppliers Gallery
      • Literature Showcase
      • Web Showcase
      • Home Page Showcase
    • About Us
      • About Us
      • Contact Us
      • Advertise With Us
      • Privacy Policy
      • Terms of Use
    Breaking News

    Rayonier to Buy Tembec

    Purchase expands Rayonier's geographic reach

    Related CONTENT
    • Ahlstrom Announces Final Financial Report
    • ProAmpac Acquires Flexible Packaging Company
    • Berry Plastics Changes Name to Berry Global
    • SCA Shareholders Approve Group Split
    • A New Chapter for SCA
    05.30.17
    Rayonier Advanced Materials announced it will acquire Tembec, providing the combined company with leading and complementary positions in key high purity cellulose end-uses and diversified earning streams from packaging, paper, high-yield pulp and forest products businesses. With its expanded geographic reach, enhanced R&D capabilities and broader, more flexible asset base, the combined company will offer customers exceptional product breadth across the spectrum of high purity cellulose products and create additional growth opportunities in packaging and forest products.

    The transaction received the unanimous approval of the Boards of Directors of both companies.

    Tembec shareholders will have the right to elect to receive either (i) C$4.05 in cash or (ii) 0.2302 of a share of Rayonier Advanced Materials common stock, for each Tembec common share. These elections are subject to proration to ensure that no more than 63% of the aggregate Tembec shares shall receive the cash consideration and no more than 37% will receive the stock consideration.

    The purchase price of approximately $807 million, including the assumption of $487 million of debt net of cash, represents a multiple of 4.6 times LTM pro forma EBITDA after expected synergies or 6.3 times before synergies. For Tembec shareholders, the purchase price per share represents a 37% premium to its closing price on May 24, 2017.

    The company expects to retain Canadian headquarters in Montreal, Québec, and a presence in Ontario, and continue all Tembec operations. The company will also proceed with Tembec's recently announced four-year investment plan for its Québec facilities and make additional investments in other key facilities and operations to further enhance the company's growth potential and competitiveness.

    For Tembec, the transaction will:
    • Establish Tembec as part of a larger, more competitive organization with the resources to invest in its growth and a commitment to continue all operations and maintain a strong presence in Québec, Ontario and France.
    • Create compelling value for shareholders, including an attractive premium to market with immediate cash and the ability to participate in the combined company's future growth, and significant liquidity through share ownership in a broadly traded public company.

    For Rayonier Advanced Materials, the combination will:
    • Position Rayonier Advanced Materials as a stronger, more balanced company with a further diversified customer and operational base.
    • Be immediately accretive to earnings and shareholder value.
    • Benefit from enhanced economies of scale, and create projected combined cost synergies of $50 million.
    • Establish a global manufacturing footprint to enhance its competitiveness in international markets, and expand its pipeline of innovative products through R&D facilities in the U.S. and France.

    "This transaction advances our growth objective to pursue strategic acquisitions where we can leverage our core competencies to provide significant long-term shareholder return," says Paul Boynton, chairman, president and chief executive officer of Rayonier Advanced Materials. "By joining forces, we are diversifying our product offering in high purity cellulose and expanding into the adjacent packaging and forest products markets with significant scale. With pro forma revenue of $2 billion, the combined company will be poised to compete effectively in any market, benefit from greater product and geographic diversity, and provide an attractive value proposition for our shareholders."

    Mr. Boynton added, "Following the transaction, our solid capital structure will enable us to make high-return investments to support the growth of Tembec's attractive businesses and product development capabilities to better serve customers. We look forward to working with Tembec's exceptional team, unions and other stakeholders to realize the abundant opportunities ahead."

    Related Searches
    • products
    • packaging
    • investment
    • core
    Related Knowledge Center
    • Mergers and Acquisitions
    Suggested For You
    Ahlstrom Announces Final Financial Report Ahlstrom Announces Final Financial Report
    ProAmpac Acquires Flexible Packaging Company ProAmpac Acquires Flexible Packaging Company
    Berry Plastics Changes Name to Berry Global Berry Plastics Changes Name to Berry Global
    SCA Shareholders Approve Group Split SCA Shareholders Approve Group Split
    A New Chapter for SCA A New Chapter for SCA
    SCA Finalizes BSN Acquisition SCA Finalizes BSN Acquisition
    Ahlstrom, Munksjö Merger to be Final April 1 Ahlstrom, Munksjö Merger to be Final April 1
    Essentra Completes Sale of Porous Technologies Essentra Completes Sale of Porous Technologies
    SCA to Make More Details of Proposed Split Available in March SCA to Make More Details of Proposed Split Available in March
    SCA Releases Statement On Split Proposal SCA Releases Statement On Split Proposal
    H.B. Fuller Expands Adhesives Business H.B. Fuller Expands Adhesives Business
    Suominen Announces Board Changes Suominen Announces Board Changes
    Ahlstrom Completes Sale of Osnabrück Plant Ahlstrom Completes Sale of Osnabrück Plant

    Related Breaking News

    • Medical | Mergers and Acquisitions | Pacific Rim

      Essity Acquires Distribution Rights to Sorbact in Australia and New Zealand

      Purchase will accelerate hygiene company's growth in advanced wound care
      Tara Olivo, associate editor 04.06.21

    • Airlaid | Mergers and Acquisitions | North America

      Glatfelter Can Proceed with Acquisition of G-P's U.S. Nonwovens Business

      Antitrust regulatory process has concluded
      Tara Olivo, associate editor 03.30.21

    • Medical | Mergers and Acquisitions

      Vernacare Acquires Robinson Healthcare

      Deal combines two healthcare, wipes companies
      03.09.21


    • Filtration | Mergers and Acquisitions | North America

      Mann+Hummel Invests in Pamlico Air

      Move strengthens company's air filtration portfolio in North America
      Tara Olivo, associate editor 03.03.21

    • Adult Incontinence | Diaper, Baby | Feminine Hygiene | Mergers and Acquisitions | North America

      Domtar Completes Sale of Personal Care Business

      Unit was acquired by American Industrial Partners
      Tara Olivo, associate editor 03.02.21

    • China | Mergers and Acquisitions

      Mitsui to Sell Chinese Nonwovens Business

      Foshan Nanhai Beautiful Nonwoven will acquire Mitsui Chemicals Nonwovens based in Tianjin
      Tara Olivo, associate editor 03.02.21


    • Mergers and Acquisitions | Pacific Rim

      Essity to Acquire Remaining Shares of Asaleo

      Transaction will facilitate growth in Australia, New Zealand and Pacific region
      02.17.21

    • Mergers and Acquisitions

      TFP Acquires PV3 Technologies

      Purchase expands TFP’s portfolio of products for hydrogen technologies
      01.18.21

    • Adult Incontinence | Diaper, Baby | Feminine Hygiene | Mergers and Acquisitions | North America
      Domtar Sells Personal Care Unit

      Domtar Sells Personal Care Unit

      Private equity firm buys business in $920 million deal
      01.08.21


    • Airlaid | Mergers and Acquisitions | North America

      Glatfelter to Buy G-P's U.S. Operations

      Deal includes large airlaid line in NC, pilot facility in TN
      01.06.21

    • Feminine Hygiene | Mergers and Acquisitions

      Asaleo Care Buys Tom Organic Fem Hy Business

      Australian-based merger focuses on natural care market
      12.22.20

    • Machinery and Equipment | Mergers and Acquisitions

      Andritz to Buy Laroche

      Deal enhances scope of supply in spunlace, wetlaid and needlepunch machinery
      12.04.20


    • China | Mergers and Acquisitions

      Soshio Industrial, Jofo Nonwovens Form Partnership

      Deal adds contract manufacturing to Jofo's offerings
      11.19.20

    • Mergers and Acquisitions | Needlepunch | North America

      Jones Makes Acquisition

      Sustainable nonwovens producer buys NH-based needlepuncher Rontex America
      11.09.20

    • Hygiene Film/Components | Mergers and Acquisitions

      Tredegar Completes Sale of Personal Care Films Business

      Business sold to affiliates of Fitesa S.A.
      11.02.20

    Trending
    • TMC Supplies Sevinçler With D-Namic Stacker And Bagger
    • First Quality To Discontinue Tampon Operations
    • PFNonwovens Adding New Capabilities In Znojmo
    • Russ Torres Named Group President Of Kimberly-Clark North America
    • U.S. Nonwovens Rebrands As Radienz Living
    Breaking News
    • Albaad to Add Natural-Based Line in Israel
    • First Quality to Discontinue Tampon Operations
    • Jessup Installs New Era Coating and Laminating Line
    • Freedonia Tracks Demand for Personal Hygiene Nonwovens
    • TMC Supplies Sevinçler with D-Namic Stacker and Bagger
    View Breaking News >
    CURRENT ISSUE

    April 2021

    • Roofing & Construction Update
    • Sustainability Efforts Continue
    • Needlepunch Market Report
    • Spunlaid Polypropylene Capacity and Demand Outlook 2020, 2021–2025
    • Spunmelt Nonwovens Surge
    • View More >



    Cookies help us to provide you with an excellent service. By using our website, you declare yourself in agreement with our use of cookies.
    You can obtain detailed information about the use of cookies on our website by clicking on "More information”.

    • About Us
    • Privacy Policy
    • Terms And Conditions
    • Contact Us

    follow us

    Subscribe
    Nutraceuticals World

    Latest Breaking News From Nutraceuticals World

    AstaReal Astaxanthin Ingredient Receives U.S. Patent Approval
    Study on Kemin’s DailyZz Botanical Blend Uncovers Sleep Quality, Next-Day Performance Benefits
    FDA’s Dr. Cara Welch Opening Speaker at the 9th AHPA Botanical Congress
    Coatings World

    Latest Breaking News From Coatings World

    Jebsen & Jessen, Innospec Sign Distribution Agreement
    IGL Coatings Announces Partnership in Finland
    Axalta Schedules 1Q 2021 Earnings Conference Call
    Medical Product Outsourcing

    Latest Breaking News From Medical Product Outsourcing

    Iterative Scopes Announces IBD-Focused Scientific Advisory Board
    Vicarious Surgical, D8 Holdings Corp. Combine Operations in $1.1 Billion Deal
    FDA Grants De Novo Clearance to Medtronic’s GI Genius Model
    Contract Pharma

    Latest Breaking News From Contract Pharma

    Bristol Myers Squibb Expands at Cambridge Crossing
    Amgen Completes Five Prime Acquisition
    Sartorius Expands in the UK
    Beauty Packaging

    Latest Breaking News From Beauty Packaging

    Former L’Oréal Exec Joins Glossier
    Lancôme Reveals New Global Sustainability Program
    First-Ever Skincare Line Focuses on Iron To Prevent Aging
    Happi

    Latest Breaking News From Happi

    Fragrance Creators Association Celebrates P&G Executive
    Evonik Highlights Solutions for Malodor Reduction
    P&G Emphasizes Small Actions at Home To Be More Sustainable
    Ink World

    Latest Breaking News From Ink World

    Kumon North America Adds Speedmaster XL 106 from Heidelberg
    SE-DA Invests in Kornit Presto S
    Acrylic Resins Market Worth $21.9 Billion by 2025: MarketsandMarkets
    Label & Narrow Web

    Latest Breaking News From Label & Narrow Web

    TLMI reveals Eugene Singer Award winners at Virtual Spring Summit
    Monadnock Paper Mills joins SGP
    ACTEGA helps converter reach sustainability goals
    Nonwovens Industry

    Latest Breaking News From Nonwovens Industry

    Albaad to Add Natural-Based Line in Israel
    First Quality to Discontinue Tampon Operations
    Jessup Installs New Era Coating and Laminating Line
    Orthopedic Design & Technology

    Latest Breaking News From Orthopedic Design & Technology

    BioMagnetic Sciences Names President and CEO
    Mainstay Medical Launches ReActiv8 in Australia
    Biogennix Rolls Out Agilon Strip Bone Graft
    Printed Electronics Now

    Latest Breaking News From Printed Electronics Now

    Virtual ASMC 2021 Spotlights Advanced Semiconductor Manufacturing Excellence
    LG Display Cuts Down CO2-eq Emissions by 3 Million Tons in 2020
    European Commission's Innovation Radar Acknowledges 3 ARMOR Innovations

    Copyright © 2021 Rodman Media. All rights reserved. Use of this constitutes acceptance of our privacy policy The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.

    AD BLOCKER DETECTED

    Our website is made possible by displaying online advertisements to our visitors.
    Please consider supporting us by disabling your ad blocker.


    FREE SUBSCRIPTION Already a subscriber? Login