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Indorama Acquires Polyester Fiber and Recycling Business

5:02 AM MDT | September 21, 2011 | Ian Young

Indorama Ventures (Bangkok) has agreed to acquire polyester fiber and recycling company Wellman International (Mullagh, Ireland) from industrial holding firm Aurelius (Munich) for an enterprise value of €42 million. The deal is due to be completed by year-end. Wellman International operates a polyester staple fiber plant at Mullagh with capacity for more than 80,000 m.t./year. It also has recycling plants at Spijk, the Netherlands and Verdun, France with capacity for 45,000 m.t./year and 28,000 m.t./year, respectively. The Mullagh plant is capable of...

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