Snavely promotes Elizabeth Grieff
Snavely Fores Products has promoted Elizabeth Grieff to the role of engineered wood products manager.
In her new role, Grieff will oversee the department, which represents a cornerstone of the Snavely legacy of being among the first to produce engineered wood.
In her former role, she was working as an engineered wood technician since joining the company in 2012.
"She has shown exemplary service and her promotion was an obvious choice to continue to lead us on the path of growth," said Bryan Kirit, general manager of Snavely Forest Greensboro.
Rayonier makes the split official
Rayonier has officially made the planned split of its Performance Fibers business unit, which is heretoforth to be known as Rayonier Advanced Materials.
“Today’s announcement is a major milestone in the completion of our separation,” said Paul Boynton, chairman, president and CEO. “Rayonier and Rayonier Advanced Materials will soon be independent, industry-leading publicly traded companies, each with its own opportunities to maximize value for our shareholders.”
There will also be a special dividend distribution, effective June 27, of all outstanding shares of Rayonier Advanced Materials common stock to Rayonier’s shareholders.
Afterwards, Rayonier Advanced Materials will be an independent, publicly traded company to begin trading around June 30, 2014 under the ticker symbol RYAM.
Meanwhile, Rayonier will retain the symbol RYN and continue operating as an independent real estate investment trust, with ownership of the existing Forest Resources and Real Estate businesses.
Former Pope Resources CEO David Nunes will take over as CEO of Rayonier, Inc., though he’s onboarding at first as the company’s COO. Bonyton will eventually take the helm at Rayonier Advanced Materials.
The tax-free spinoff was in the works for about two years.
Lithonia Lighting recalls over 1 million emergency lights
Lithonia Lighting is recalling about 1.7 million units of its Quantum ELM and ELM2 two-light emergency fixture, citing a fire hazard.
According to the Consumer Product Safety Commission, the circuit board has a tendency to overheat and cause the fixture to melt and catch fire.
There have been 29 incident reports thus far, with one resulting in over $100,000 worth of property damage. No injuries have been reported, however.
The affected fixtures are about 12.5 inches wide, 5 inches high and 3.75 inches deep and come in white or black pastic. They have two incandescent lights and a rechargeable lead acid battery. The circuit boards within are green on both sides with either Rev B or Rev Cprinted in the top left corner. Those with circuit boards that are beige on one side and are marked with ELM2 LED, ELM2 SD and ELM2 WRS are not affected by the recall.