Breaking News

Wellman To Consolidate Operations, Close Plant

September 28, 2006

Wellman Inc., Shrewsbury, NJ, will consolidate all of its U.S. fiber production at its Palmetto plant in Darlington, SC and close the fiber operation at its Johnsonville, SC facility. According to the company, which sells polyester to the apparel, home furnishings, nonwovens, industrial and fiberfill markets, the move is intended to reduce working capital and lower debt. Wellman also plans to sell the material recycling division and certain equipment at its Johnsonville plant. These actions are expected to result in a pre-tax charge of $30-$35 million in the third quarter.

"Consolidating our U.S. fiber production is expected to increase operating income and reduce working capital," commented Thomas Duff, chief executive. "We will be able to operate one fiber facility at close to full capacity rather than operating two under-utilized facilities. This will allow us to lower our overall costs and remain more competitive in our domestic fiber operations."
  • Flushable Wipes Update

    Flushable Wipes Update

    Karen McIntyre, editor||April 13, 2016
    INDA president continues to make defending flushable wipes one of his top priorities.

  • Wipes Entrepreneurs Target Men

    Wipes Entrepreneurs Target Men

    Tara Olivo, associate editor||April 13, 2016
    As more men groom with personal care products, new innovators are seeing opportunities in the wipes market.

  • Germany's Dr. Schumacher Expands Personal Care Wipe Plan

    By Jaroslaw Adamowski, correspondent||April 13, 2016
    50,000 square foot facility opens four years after older site was lost in fire.