Corporate Profile for Wellman Inc., Nov. 1, 1996.--(BUSINESS WIRE)--The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and information services See Information Systems. . These include Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance News/Retrieval, Bloomberg Financial Markets, Reuter Company Newsyear, Reuter Business Briefing, DataTimes, Nexis, Dialog, NewsNet, America OnLine See AOL. , CompuServe, Delphi, Individual's HeadsUp and First!, Desktop Data's NewsEdge, UMI UMI University Microfilms International UMI United States Minor Outlying Islands (ISO Country code) UMI University of Miami UMI Universal Management Infrastructure (IBM) Data Courier, NewsBank, Information Access Company, Prodigy, Comtex, and many others. -0-
Published Date: Nov. 1, 1996
Company Name: Wellman Inc.
Address: 1040 Broad St. Ste. 302
Shrewsbury, NJ 07702
Main Telephone
Number: (908) 542-7300
Chief Executive
Officer: Thomas M. Duff
Investor Relations
Contact: Jill M. Rea
Business number: (908) 935-7319
Public Relations
Contact: Judith Langan
Business number: (212) 642-0779
Trading Symbol: WLM
Industry: manufacturing/chemicals
Produce polyester fiber and PET resins
Company description: Wellman Inc. manufactures and markets high-quality polyester products, including Fortrel(R) brand polyester textile fibers, polyester fibers made from recycled raw materials and PermaClear(TM) brand PET (or polyethylene terephthalate Ter`eph´tha`late n. 1. (Chem.) A salt of terephthalic acid. ) packaging resin. Wellman manufactures about 1.1 billion pounds of fiber and over 500 million pounds of resin each year at five major production facilities in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Europe. Wellman is also the world's largest plastics recycler, utilizing a significant amount of recycled raw materials in its manufacturing operations. The major uses for Wellman's polyester fibers are in apparel, home textiles, fiberfill fi·ber·fill n. Lightweight synthetic fiber used as filling or insulation, as in comforters, pillows, and outerwear. , carpet and industrial applications. Approximately 60% of the company's fibers are produced from purchased chemical raw materials, while the other 40% are produced from recycled raw materials. The company's PET resins, produced from chemical raw materials, are primarily used in the manufacture of clear plastic soft drink bottles and other food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. packaging. By the year 2000, Wellman plans to nearly double its production capacity trough the expansion of existing facilities and construction of a new state-of-the-art production facility in Mississippi in 1999. Most of the expansion will be in PET resins, a fast-growing market. Wellman went public in June 1987 with $250 million in annual sales. Sales and net earnings hit $1.1 billion and $76 million, respectively, in 1995. The company employs 3,600 people worldwide. The corporate office is located in Shrewsbury, N.J. CONTACT: Wellman Inc. |
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