JACKSONVILLE, Fla. (News release) -- Rayonier Advanced Materials Inc. announced that, effective immediately, it will increase prices for all its Cellulose Specialties products by a minimum 15 to 30 percent depending on product grade, as contracts allow. The purpose of this increase is to help the Company offset the accelerating impacts of cost inflation throughout its global supply chain.
"As the Company has entered the second half of 2021, it has been confronted by the realities of substantial cost inflation," said Paul Boynton, President and Chief Executive Officer. "Specifically, the Company is experiencing marked increases with respect to four core components of its Cellulose Specialties input costs - fiber, chemicals, energy and freight - and the Company currently expects these increases to continue well into 2022. These actions are a necessary step in the current global environment and will supplement ongoing cost- and efficiency-improvement initiatives at the Company's four best-in-class High Purity Cellulose facilities."