Indorama Acquires Polyester Fiber and Recycling Business

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 ($58 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...

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