RYAM Provides Update On A Fire At Its Jesup Plant; Says "The Fire Was Quickly Contained With No Injuries To Employees Or Contractors And No Risk To The Surrounding Community. The Company Is Thoroughly Investigating The Event's Causes In Close Collaboration With Relevant Experts And Authorities"; The EBITDA Impact Is Currently Expected To Be In The Range Of $15M-$20M
Portfolio Pulse from Benzinga Newsdesk
Rayonier Advanced Materials Inc. (RYAM) reported a fire at its Jesup, Georgia plant, which was quickly contained with no injuries. The incident affects the A and B production lines, expected to resume by the end of October, with an estimated EBITDA impact of $15 to $20 million.
October 14, 2024 | 12:03 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
A fire at RYAM's Jesup plant has temporarily halted A and B line operations, with an expected EBITDA impact of $15-$20 million. The company is working on repairs and plans to resume operations by late October.
The fire at RYAM's largest facility affects its production capacity, leading to a temporary halt in operations for the A and B lines. This disruption is expected to impact the company's EBITDA by $15-$20 million, which is significant for short-term financial performance. The company's swift response and containment of the fire, along with the planned resumption of operations, mitigate some negative impacts, but the financial hit and operational downtime are likely to weigh on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100