Rayonier ( RYN) said Thursday it signed a five-year contract to supply cellulose specialties products to the Nantong Cellulose Fibers unit of China National Tobacco. The contract is expected to generate revenue of about $500 million. Rayonier's specialty cellulose fibers are used to produce cigarette filters. China National Tobacco is a manufacturer and marketer of tobacco products, the Jacksonville, Fla.-based company said. "As markets for our Cellulose Specialties continue to grow, our focus remains on enhancing our competitive position through targeted capital investments and operational efficiencies that not only improve costs but further enhance the quality of these high value products," the company added. The company's stock was trading at $37.89, down 14 cents Thursday.