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Prepared By R.R. Donnelley Financial -- Form 8-K
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C., 20549
 
Form 8-K
 
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date Of Report (Date Of Earliest Event Reported):  10/04/2005
 
RAYONIER INC.
(Exact Name of Registrant as Specified in its Charter)
 
Commission File Number:  1-6780
 
North Carolina
  
13-2607329
(State or Other Jurisdiction of
  
(I.R.S. Employer
Incorporation or Organization)
  
Identification No.)
 
50 North Laura Street
Jacksonville, Florida
32202
(Address of Principal Executive Offices, Including Zip Code)
 
904-357-9100
(Registrant’s Telephone Number, Including Area Code)
 
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[  ]   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act(17CFR240.14a-12)

[  ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17CFR240.14d-2(b))

[  ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17CFR240.13e-4(c))
 

Items to be Included in this Report

 
Item 8.01.    Other Events
 
On October 4, 2005, Rayonier announced that transactions have been completed by a consortium including Rayonier relating to the previously announced acquisition of 235,000 acres of New Zealand forests owned by Carter Holt Harvey and the consortium's purchase of Rayonier's 118,000 acres. A copy of the press release entitled "Rayonier/Consortium Close on Purchase of New Zealand Forests" is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
 
 
Item 9.01.    Financial Statements and Exhibits
 
(c) Exhibits.
99.1 Press release entitled "Rayonier/Consortium Close on Purchase of New Zealand Forests" issued October 4, 2005.
 

 

Signature(s)
 
Pursuant to the Requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the Undersigned hereunto duly authorized.
 
      
 
RAYONIER INC.
 
 
Date: October 04, 2005.
     
By:
 
/s/    Hans E. Vanden Noort
               
Hans E. Vanden Noort
               
Senior Vice President and Chief Accounting Officer
 
 

 

Exhibit Index
 
Exhibit No.
  
Description
EX-99.1
  
Rayonier/Consortium Close on Purchase of New Zealand Forests
Matariki Close

EXHIBIT 99.1

FOR IMMEDIATE RELEASE

For further information

Media Contact: Jay Fredericksen

904-357-9106

Investor Contact: Parag Bhansali

904-357-9155

Rayonier/Consortium Close on Purchase of New Zealand Forests

 

JACKSONVILLE, Florida, October 4, 2005 -- Rayonier (NYSE:RYN) said today that transactions have been completed by a consortium including Rayonier relating to the previously announced acquisition of 235,000 acres of New Zealand forests owned by Carter Holt Harvey for approximately US$300 million, and the consortium's purchase of Rayonier's 118,000 acres there for approximately US$185 million. Rayonier has a 49.7 percent equity interest in the consortium and is the manager of the combined forest estate.

"With the close of these transactions, we have increased the area of our forest holdings in this important region, incorporated them into our tax-efficient REIT structure, partially monetized our investment and returned cash to the U.S.," said Lee Nutter, Chairman, President and CEO. "The proceeds will be used to support growth of our higher-and-better-use real estate business in the coastal corridor of Northeast Florida/ Southeast Georgia and the purchase of additional timberlands."

Rayonier has 2.2 million acres of timberland and real estate in the U.S. and New Zealand. Its real estate subsidiary, TerraPointe LLC, is charged with maximizing the value of Rayonier's higher-and-better-use properties, including 200,000 acres in the coastal counties of Northeast Florida and Southeast Georgia. Rayonier is also the world's leading producer of high performance specialty cellulose fibers and has customers in more than 50 countries.

For further information, visit the company's web site at www.rayonier.com. Complimentary copies of Rayonier press releases and other financial documents are also available by mail or fax or by calling 1-800-RYN-7611.