Wellman acquired by Indorama Ventures

Indorama Ventures is to acquire the recycling and fibre manufacturing businesses of Wellman International in Europe.

The acquisition is expected to be completed within 2011 subject to necessary regulatory approvals.

Wellman International has three production facilities in Europe – a polyester fibre plant based in Mullagh, the Republic of Ireland, with an output of more than 80,000 tons, a recycling plant at Spijk in the Netherlands with an output of 45,000 ton and a second in Verdun in France with an output of 28,000 tons.

The plant in Ireland is capable of converting waste polyester into 100% recycled fibre from post consumer recycled bottles that can be used in a variety of premium applications such as in the hygiene industry.

Wellman has the know-how for blend ingrecycled PET (rPET) and industrial waste and Indorama Ventures believe it will potentially contribute to making it a ‘zero waste’ company” with a low carbon footprint.

Wellman will also provide access to proven recycling technology and the potential for a technology transfer to the company’s Asian assets with a reduced learning curve.