Indorama Ventures to acquire Wellman's recycling and fibre manufacturing businesses
23 September 2011Thailand's Indorama Ventures has signed a definitive share purchase agreement to acquire Wellman International's European recycling and fibre manufacturing businesses from Aurelius.
The business has three production facilities in Europe: a polyester fibre plant in Mullagh, Ireland, with an output of over 80,000t; a recycling plant in Spijk, the Netherlands, with an output of 45,000t; and a recycling plant in Verdun, France, with an output of 28,000t.
The Irish plant is capable of converting waste polyester into 100% recycled fibre.
The acquisition is expected to be completed by the end of the year.
