Wellman Sells WIL To Aurelius AG Affiliate
Wellman Inc., Fort Mill, S.C., has sold Ireland-based Wellman International Ltd. (WIL), the
company's European recycled-based fibers business, to an affiliate of Germany-based investment firm
Aurelius AG for approximately $38 million. The sale is in line with Wellman's strategy to focus on
its US chemical-based business.
"We are pleased with the result of Wellman's investigation of strategic alternatives for our business," said Dick Budden, managing director, WIL. "With the support of Aurelius, we shall continue providing first-class products and service to all our customers, and have the resources to expand our business, both in fibers and in recycled materials for other applications."
WIL has an annual production capacity of approximately 185 million pounds of primarily post-consumer-recycled-content polyester fiber. Applications for the fiber include car interior trim, industrial, loose-filled bed products, personal hygiene and upholstered furniture uses.