Rayonier
Rayonier NYSE: RYN is the seventh largest private owner of timberland in the United States. In addition to its U.S. holdings, Rayonier also owns land in Chile and New Zealand.[citation needed]
Headquartered in Jacksonville, Florida, Rayonier was founded in 1926 as the Rainier Pulp and Paper Company. Its first mill opened the next year in Shelton, Washington, on the Olympic Peninsula. In 1931, Rainier Pulp and Paper began working with Du Pont to produce hemlock pulp for the manufacture of rayon.
Rainier Pulp and Paper changed its name to Rayonier, a merger of "rayon" and "Rainier", in 1937, when it became a publicly traded company. ITT purchased the company in 1968 and changed its name to ITT Rayonier. It was spun off from ITT in 1994. It converted to a real estate investment trust on January 1, 2004[1].
In March 2008, it purchased $215 million worth of real estate from Sierra Pacific [2]
References
- ^ Rayonier, Inc. History Accessed 2008-09-25
- ^ Rayonier to buy timberlands for $215 mln Accessed 2008-09-25