Rayonier, founded in 1926, engages in the sale and development of real estate and timberland management. The company operates as a real estate investment trust, and owns, leases and manages more than 2-million-acres of timber and land in the United States, New Zealand and Australia. Its real estate segment sells medium and large tracts of land with infrastructure. The company s performance fibers segment manufactures cellulose specialties that are used in acetate textile fibers, cigarette filters, rigid packaging, liquid crystal display screens, photographic film, impact-resistant plastics, high-tenacity rayon yarn, pharmaceuticals, cosmetics, detergents, food casings, and food products. Its wood products segment manufactures and sells dimension lumber used for residential and industrial construction applications. Rayonier, formerly known as Rainier Pulp & Paper Company, is based in Jacksonville, Fla.