RYAM To Temporarily Idle Production At Its Paperboard And High-Yield Pulp Operations; Its Témiscaming Paperboard Operation And One Of Its High-Yield Pulp Lines Will Be Idled For 3 Weeks
Portfolio Pulse from Benzinga Newsdesk
Rayonier Advanced Materials Inc. (NYSE:RYAM) has announced that it will temporarily idle its Témiscaming Paperboard operation and one of its High-Yield Pulp lines for 3 weeks starting October 7, 2023. The decision is aimed at optimizing inventory levels and addressing lower-than-expected demand. The company assures that customer orders will not be affected.
October 06, 2023 | 8:33 pm
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Rayonier Advanced Materials' decision to idle operations for 3 weeks may impact its short-term revenue, potentially leading to a decrease in its stock price.
The decision to idle operations is a response to lower-than-expected demand, indicating potential sales and revenue challenges. This could negatively impact investor sentiment and lead to a decrease in the company's stock price in the short term.
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