Wellman Inc., manufacturer of polyester products and packaging resins is to explore strategic alternatives for its European fiber and polyethylene terephthalate resin businesses and restructuring its U.S. fiber operations.
Wellman plans to consolidate fiber production to its Darlington plant and close its Johnsonville, facility. This move will assist the company to improve its operating results, reduce working capital and lower overall debt. The company plans to sell its Johnsonville material recycling division.
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