Rayonier rises after natural gas provider cancels force majeure

Rayonier Advanced Materials

29/12/2022 16:44

** Shares of chemical firm Rayonier Advanced Materials Inc
 RYAM.N  up 5.5% at $9.2, hitting its highest price in over one
and half years 
    ** Co's natural gas provider, Southern Natural Gas Co LLC
cancels its force majeure declaration  urn:newsml:reuters.com:*:nBw2tgjh2a
    ** On Dec. 24, Southern Natural Gas, a unit of Kinder Morgan
Inc  KMI.N , declared force majeure due to unscheduled outage of
Elba Express pipeline's Hartwell compressor station
    ** RYAM says the event impacted natural gas supply to its
facility in Georgia, resulting in an estimated $4 mln EBITDA
impact to co
    ** KMI shares up 1.2% 
    ** So far this year, RYAM stocks gain ~61%
 (Reporting by Ankit Kumar in Bengaluru)
 ((Ankit.Kumar2@thomsonreuters.com))