Wellman announces new €5mn investment on 49th anniversary

Wellman International Ltd is Europe's largest producer of high quality polyester staple fibres, made primarily from post-consumer recycled material for various end-uses. The facility is a valued member of the Indorama Group and employs 260 people on site. Local management and staff were joined by Mr Aloke Lohia, CEO of Indorama Ventures Ltd, Mr S P Lohia, Chairman Indorama Ventures Ltd and Ms Aradhana Lohia, who visited the facility.

The investment will facilitate the transformation of the operation from a commodity non-woven provider to a hygiene and technically focused supply base aligned to the established markets for personal care. Commenting on the investment, Minister for Jobs, Enterprise and Innovation, Richard Bruton TD said: “This is a very significant announcement by Wellman, which has been a major employer in Cavan for 40 years. I commend all involved and wish Wellman every success for the future”.

Frank Gleeson, Managing Director commented - “Following an in-depth strategic review with our parent company, we are very pleased to be making this investment announcement on our 40th anniversary which will enable us to manufacture a higher value product portfolio and maintain our current level of employment on site. I would like to acknowledge the significant contribution of the workforce who continue to deliver focused effort, commitment and flexibility through this transformation process.”

Barry O’Leary, CEO, IDA Ireland said “A key focus for IDA in regional locations is to ensure that our client companies retain the employment levels they currently have and help identify new areas of growth or opportunity for expansion and investment. Wellman have been an excellent employer for 40 years in Cavan, and this investment demonstrates the company’s commitment to Ireland in the long term.”

About Wellman International

Wellman International, a subsidiary of Indorama Venture PCL, is Europe's leading producer of high quality polyester staple fibres, manufacturing high quality polyester products from recycled post-consumer PET bottles. Based in Mullagh, Co. Cavan. The company is Europe’s largest PET (Polyethylene Terephthalate) recycler, processing in excess of 2.2 billion post-consumer PET bottles annually to make their fibre products.

About Indorama Ventures

Indorama Ventures Public Company Limited, listed in Thailand is a leading producer in the polyester value chain in Thailand with strong global network and manufacturing across Asia, Europeand North America. Its products serve major players in diversified end use markets, including food, beverages, personal and home care, health care, automotive, textile, and industrial.

Wellman