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Rayonier Company

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December 9, 1993 | From Times Staff and Wire Reports
ITT to Spin Off Timber Unit: ITT Corp. said it plans to spin off its $1-billion Rayonier forest products division to its shareholders, and the news gave ITT stock a boost. The New York-based conglomerate, which owns hotels, insurance and electronics companies as well as an auto parts supplier, said it will distribute a share of Rayonier common stock for every four shares of ITT common stock held.
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BUSINESS
December 9, 1993 | From Times Staff and Wire Reports
ITT to Spin Off Timber Unit: ITT Corp. said it plans to spin off its $1-billion Rayonier forest products division to its shareholders, and the news gave ITT stock a boost. The New York-based conglomerate, which owns hotels, insurance and electronics companies as well as an auto parts supplier, said it will distribute a share of Rayonier common stock for every four shares of ITT common stock held.
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BUSINESS
November 6, 1987
Edmund M. Carpenter has relinquished the post of chief operating officer for New York-based ITT Corp. and will become chief operating officer for ITT's product businesses, including ITT's automotive products business, its electronic components business and its fluid technology business. He remains president of ITT Corp. DeRoy C.
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