Rayonier
Encyclopedia
Rayonier headquartered in Jacksonville, Florida
, is the fifth largest private land owner in the United States
with over 2200000 acres (8,903.1 km²). In addition to its U.S. holdings, Rayonier also owns 250000 acres (1,011.7 km²) of land in New Zealand
.
Pulp and Paper Company with an office in San Francisco, California
. Its first mill opened the next year in Shelton, Washington
,and Port Angeles on the Olympic Peninsula
. The mill used Tsuga heterophylla (western hemlock) trees to create a premium bleached paper pulp. In 1931, Rainier Pulp and Paper began working with the Du Pont chemical company to produce hemlock
pulp for the manufacture of rayon
. Two additional pulp mills were constructed and began operation in the state of Washington.
Rainier Pulp and Paper changed its name to Rayonier, a merger of the words, "rayon" and "Rainier", in 1937, when it became a publicly traded company. The following year, the company acquired timber stands in the southeastern United States and began construction of a Fernandina Beach, Florida
, pulp mill, which began production in 1939.
In 1944, the company moved its offices to New York City
. As World War II ended, Rayonier began making large land purchases in the Pacific Northwest. The Rayonier Foundation was created in 1952 to provide assistance to charitable, civic and education organizations in the communities where Rayonier did business.
Rayonier opened international sales offices in Europe and Asia during 1954. That same year, another pulp mill in the southeast was constructed at Jesup, Georgia
. High demand prompted the facility to double its capacity by 1957.
ITT
purchased the company in 1968 and the name changed to ITT Rayonier.
The Jesup mill grew larger in 1974, becoming the largest pulp mill on earth.
Company headquarters were moved again in 1978; this time to Stamford, Connecticut
.
Diplomatic relations with China
were restored in 1979. The following year, Rayonier received orders for pulp and logs. It took almost five years to receive permission to open an office in Beijing, China in 1985.
A log-trading office was opened in New Zealand during 1988. The New Zealand government sold Rayonier 250000 acres (1,011.7 km²) of timberland in 1992.
The company was spun off from ITT in 1994 with the company name reverting to Rayonier and shares again traded on the New York Stock Exchange.
Rayonier purchased 969000 acres (3,921.4 km²) of timberland in Florida, Georgia and Alabama in 1999, then relocated the corporate offices to Jacksonville, Florida
to be closer to company employees and properties.
Rayonier converted to a real estate investment trust
on January 1, 2004.
TerraPointe LLC was established in 2005 to manage properties with development potential.
The 2006 purchase of 228000 acres (922.7 km²) in six states brought the company's total of land owned, leased or managed to 2600000 acres (10,521.8 km²) in the U.S. and New Zealand.
In March 2008, the company purchased 56300 acres (227.8 km²) for $215 million in southwest Washington state from Sierra Pacific
Jacksonville, Florida
Jacksonville is the largest city in the U.S. state of Florida in terms of both population and land area, and the largest city by area in the contiguous United States. It is the county seat of Duval County, with which the city government consolidated in 1968...
, is the fifth largest private land owner in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
with over 2200000 acres (8,903.1 km²). In addition to its U.S. holdings, Rayonier also owns 250000 acres (1,011.7 km²) of land in New Zealand
New Zealand
New Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses and numerous smaller islands. The country is situated some east of Australia across the Tasman Sea, and roughly south of the Pacific island nations of New Caledonia, Fiji, and Tonga...
.
History
Rayonier was founded in 1926 as the RainierMount Rainier
Mount Rainier is a massive stratovolcano located southeast of Seattle in the state of Washington, United States. It is the most topographically prominent mountain in the contiguous United States and the Cascade Volcanic Arc, with a summit elevation of . Mt. Rainier is considered one of the most...
Pulp and Paper Company with an office in San Francisco, California
San Francisco, California
San Francisco , officially the City and County of San Francisco, is the financial, cultural, and transportation center of the San Francisco Bay Area, a region of 7.15 million people which includes San Jose and Oakland...
. Its first mill opened the next year in Shelton, Washington
Shelton, Washington
Shelton is the county seat, of Mason County, Washington, United States. Shelton is the westernmost city on Puget Sound. The population was 9,834 at the 2010 census. In terms of population, the city is ranked 161 out of approximately 500 municipalities in Washington...
,and Port Angeles on the Olympic Peninsula
Olympic Peninsula
The Olympic Peninsula is the large arm of land in western Washington state of the USA, that lies across Puget Sound from Seattle. It is bounded on the west by the Pacific Ocean, the north by the Strait of Juan de Fuca, and the east by Puget Sound. Cape Alava, the westernmost point in the contiguous...
. The mill used Tsuga heterophylla (western hemlock) trees to create a premium bleached paper pulp. In 1931, Rainier Pulp and Paper began working with the Du Pont chemical company to produce hemlock
Tsuga
Tsuga is a genus of conifers in the family Pinaceae. The common name hemlock is derived from a perceived similarity in the smell of its crushed foliage to that of the unrelated plant poison hemlock....
pulp for the manufacture of rayon
Rayon
Rayon is a manufactured regenerated cellulose fiber. Because it is produced from naturally occurring polymers, it is neither a truly synthetic fiber nor a natural fiber; it is a semi-synthetic or artificial fiber. Rayon is known by the names viscose rayon and art silk in the textile industry...
. Two additional pulp mills were constructed and began operation in the state of Washington.
Rainier Pulp and Paper changed its name to Rayonier, a merger of the words, "rayon" and "Rainier", in 1937, when it became a publicly traded company. The following year, the company acquired timber stands in the southeastern United States and began construction of a Fernandina Beach, Florida
Fernandina Beach, Florida
Fernandina Beach is a city in Nassau County in the state of Florida in the United States of America and on Amelia Island. It is a part of Greater Jacksonville and is among Florida's northernmost cities. The area was first inhabited by the Timucuan Indian tribe...
, pulp mill, which began production in 1939.
In 1944, the company moved its offices to New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
. As World War II ended, Rayonier began making large land purchases in the Pacific Northwest. The Rayonier Foundation was created in 1952 to provide assistance to charitable, civic and education organizations in the communities where Rayonier did business.
Rayonier opened international sales offices in Europe and Asia during 1954. That same year, another pulp mill in the southeast was constructed at Jesup, Georgia
Jesup, Georgia
Jesup is a city in Wayne County, Georgia, United States. The population was 9,279 at the 2000 census. The city is the county seat of Wayne County.-Geography:Jesup is located at ....
. High demand prompted the facility to double its capacity by 1957.
ITT
ITT Corporation
ITT Corporation is a global diversified manufacturing company based in the United States. ITT participates in global markets including water and fluids management, defense and security, and motion and flow control...
purchased the company in 1968 and the name changed to ITT Rayonier.
The Jesup mill grew larger in 1974, becoming the largest pulp mill on earth.
Company headquarters were moved again in 1978; this time to Stamford, Connecticut
Stamford, Connecticut
Stamford is a city in Fairfield County, Connecticut, United States. According to the 2010 census, the population of the city is 122,643, making it the fourth largest city in the state and the eighth largest city in New England...
.
Diplomatic relations with China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
were restored in 1979. The following year, Rayonier received orders for pulp and logs. It took almost five years to receive permission to open an office in Beijing, China in 1985.
A log-trading office was opened in New Zealand during 1988. The New Zealand government sold Rayonier 250000 acres (1,011.7 km²) of timberland in 1992.
The company was spun off from ITT in 1994 with the company name reverting to Rayonier and shares again traded on the New York Stock Exchange.
Rayonier purchased 969000 acres (3,921.4 km²) of timberland in Florida, Georgia and Alabama in 1999, then relocated the corporate offices to Jacksonville, Florida
Jacksonville, Florida
Jacksonville is the largest city in the U.S. state of Florida in terms of both population and land area, and the largest city by area in the contiguous United States. It is the county seat of Duval County, with which the city government consolidated in 1968...
to be closer to company employees and properties.
Rayonier converted to a real estate investment trust
Real estate investment trust
A real estate investment trust or REIT is a tax designation for a corporate entity investing in real estate. The purpose of this designation is to reduce or eliminate corporate tax. In return, REITs are required to distribute 90% of their taxable income into the hands of investors...
on January 1, 2004.
TerraPointe LLC was established in 2005 to manage properties with development potential.
The 2006 purchase of 228000 acres (922.7 km²) in six states brought the company's total of land owned, leased or managed to 2600000 acres (10,521.8 km²) in the U.S. and New Zealand.
In March 2008, the company purchased 56300 acres (227.8 km²) for $215 million in southwest Washington state from Sierra Pacific
Market Segments
According to Florida Trend magazine, the company is a leading international forest products company with three segments: timber, real estate and performance fibers.Mills
- Baxley, GA (wood)
- Swainsboro, GA (wood)
- Eatonton, GA (wood)
- Jesup, GA (pulp)
- Fernandina Beach, FL (pulp)