Wellman sells fibre business

South Carolina-based Wellman has sold its European recycled-based fibres business, WIL, for $38 million to an affiliate of Aurelius.

‘The sale of this business reflects our strategy to focus on our US chemical-based business,’ said Thomas M Duff, chairman and CEO of Wellman.

WIL has the capacity to produce 82,589 tonnes of polyester fibre primarily using post-consumer recycled materials. The fibres are used in a wide range of applications including personal hygiene, upholstered furniture, loose-filled bed products, car interior trim and industrial uses.

Wellman manufactures polyester products, including PermaClear PET packaging resin and Fortrel polyester fibre.