Private Equity Firm Buys Wellman’s European PET Unit

An affiliate of private equity firm Sun Capital Partners (Boca Rotan, RL) has acquired Wellman’s European polyethylene terphthalate business, PET Resins. Financial terms of the deal were not disclosed. The deal reflects Wellman’s plan “to focus on our U.S. chemical-based business,” says chairman and CEO Thomas Duff. Wellman announced plans to sell its European PET unit last year (CW, Oct. 4, 2006, p. 8). The deal includes Wellman’s PET Resin’s plant at Emmen, the Netherlands. The business has the capacity to manufacture about...

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