Issue Date: June 11, 2007
Wellman Sells Resin Business In Europe
Polyester resin and fiber producer Wellman has sold its European polyethylene terephthalate resins business to Sun European Partners, an affiliate of U.S. private equity firm Sun Capital Partners. Wellman announced late last year that it wanted to sell the business, which consists of a 110 million-lb-per-year plant in Emmen, the Netherlands. "The sale of this business reflects our strategy to focus on our U.S. chemical-based business," says Wellman CEO Thomas M. Duff. In February, Eastman Chemical agreed to sell its San Roque, Spain, plant to a local company.
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