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Wellman Announces Sale Of Polyester Filament Business

Wellman Announces SaleOf Polyester Filament BusinessWellman Inc., Shrewsbury, N.J., has announced the sale of its polyester filament yarn business located in Fayetteville, N.C. The business was purchased by Cedar Creek Fibers LLC and will be led by Christopher Schaller. Wellman agreed to supply raw material feedstock to Cedar Creek for a one-year period and will provide transition services to achieve a seamless transfer of ownership.[The sale] provides the opportunity for many of our employees to remain at the Fayetteville facility in the industry they have served for so many years, said Tom Duff, CEO, Wellman.July 2002