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Rayonier Wins Award; Sells Timberland.

Raw material supplier Rayonier Inc., Jacksonville, FL, has been presented the 2000 Award for Corporate Excellence for practices that significantly advance the positive image of the U.S. in New Zealand. The honor cites Rayonier for good governance and exemplary employment practices in New Zealand. The company has operated in New Zealand, where it employs 200 people to manage 220,000 acres of timber and related businesses, since 1989.

In other news, Rayonier has sold its 25% interest in 41,000 acres in New Zealand to its joint venture partner, UBS Timber Investors, for $14.6 million. The sale does not impact Rayonier's 221,000 acres of timber holdings elsewhere in New Zealand.
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Publication:Nonwovens Industry
Article Type:Brief Article
Geographic Code:1USA
Date:Feb 1, 2001
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