Rayonier Inc is originated as the Rainier Pulp & Paper Company founded in Shelton, WA in 1926. The Company is a North Carolina corporation. It is Real Estate Investment Trust. The Company is an international forest Products Company mainly engaged in timberland management, the sale and entitlement of real estate, and the production and sale of high value specialty cellulose fibers. The Company owns and operates two specialty cellulose mills in the United States. The Company also engages in the trading of logs. The Company operates in five reportable business segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate and Trading. The Southern Timber, Pacific Northwest Timber and New Zealand Timber segments reflect all activities related to the harvesting of timber and other value-added activities, such as recreational leases, within each respective geography. The New Zealand Timber segment also reflects any land sales that occur within its New Zealand portfolio. Its Real Estate segment reflects all U.S. land sales, which are reported in five sales categories: Improved Development, Unimproved Development, Rural, Non-Strategic / Timberlands, and Large Dispositions. The Trading segment reflects the log trading activities that support its New Zealand operations.The Company operates log trading businesses in the northwest U.S. and New Zealand. The U.S. timber operations are conducted by the Companys wholly-owned REIT subsidiaries. Non-REIT qualifying and certain foreign operations, which are subject to corporate-level tax on earnings, are operated by its wholly-owned taxable subsidiary, Rayonier TRS Holdings Inc. These operations include Performance Fibers and trading businesses, as well as the Real Estate segments entitlement and sale of higher and use properties.