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Large European recycled fibres company sold in $38 million deal

American company Wellman Incorporated has sold its European recycled fibres business in a $38 million deal to German based Aurelius. The recycled fibres business, Wellman International, generates a turnover of about €110 million a year and has about 380 employees. PET bottles, collected in Europe, are processed at two of the companys plants in Spijk, Holland, and Verdun, France. The recycled material is used to produce polyester fibres or PET packaging. Polyester fibres made from recycled ...