RYAM to indefinitely suspend Temiscaming HPC plant operations effective July 2, 2024, laying off ~275 employees

RAYONIER ADVANCED MATERIALS INC.

Indefinite suspension of Temiscaming HPC plant due to market weakness and high costs.
Plant capacity ~150,000 metric tons; reduces RYAM's global HPC production.
Approximately 275 layoffs; company will assist employees per collective agreement.
Adjacent paperboard and high-yield pulp plants continue operating; part of ongoing sales process.
Decision aims to mitigate operating losses, improve free cash flow and balance sheet.

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