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Rayonier Inc.



Rayonier Inc. is an international forest products company mainly involved in timberland management, the sale and development of real estate, and the production and sale of specialty cellulose fibers. Rayonier owns, leases or manages approximately 2.7 million acres of timberland and real estate located in the United States, New Zealand and Australia. Rayonier also owns and operates two specialty cellulose mills in the United States. Additionally, the company manufactures lumber in three sawmills in Georgia, and engages in the trading of logs and wood products. Its chief businesses are conducted through two entities. The company's United States timber operations are conducted by a wholly owned real estate investment trust (REIT) subsidiary: Rayonier Forest Resources, L.P. and Rayonier TRS Holdings Inc.. During 2006, Rayonier acquired 228,000 acres of timberland in six states.


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