Rayonier Advanced Materials announced that it is repositioning key members of its senior management team to drive the company’s Go-to-Market strategy and accelerate new product commercialization. Frank Ruperto will assume the role of Senior Vice President, High Purity and High Yield Cellulose Business; Dr. Erin Byers will assume the new role of Senior Vice President, Research and Development; and Marcus Moeltner will be promoted to Chief Financial Officer and Senior Vice President, Finance. “Driving growth is a critical part of creating value for our stockholders,” said Paul Boynton, Chairman, President and Chief Executive Officer of Rayonier Advanced Materials. “We are repositioning key members of our senior leadership team to focus on the initiatives essential for our future success. I’d like to congratulate all three executives as they assume their new roles and responsibilities.” Click Read More below for additional information.
• Operating Cash Generation2 and Adjusted EBITDA² set new records in the quarter: R$1.28 billion and R$1.57 billion, respectively.
• Strong performance in the pulp segment, supported by the effect from exchange variation: adjusted EBITDA1/ton of R$1,646/ton (+59.4% on 2Q17).
• Marginal increase in cash cost in LTM: R$593/ton, 0.8% higher than in LTM to 2Q17.
• Solid results and new increases in paper prices in both the domestic and international markets: adjusted EBITDA1/ton of R$892/ton (+25.8% on 2Q17).
• Truck drivers’ strike: production loss of approximately 80,000 tons of market pulp and of approximately 25,000 tons of paper in 2Q18, which adversely affected sales.
• Investments: conclusion of the acquisition of around 9,500 hectares in rural areas and 1,200,000 m³ of wood in São Paulo state from Duratex S.A.
• Transaction with Fibria: authorization granted without restrictions by Federal Trade Commission (U.S. antitrust agency, case formally filed at CADE (Brazil) and SAMR (China) and pre-filing in European Union and Turkey, issuance of declaration of effectiveness by the Securities Exchange Commission of the United States of America.
• Financing of Fibria Transaction: 6th debentures issue (R$4.7 billion | US$1.3 billion) and reduction of financial commitment to US$4,4 billion.
details at: http://ir.suzano.com.br/ptb/6947/636221.pdf