rPET pioneer enters examinership

24/06/2025
An Indorama Ventures company since 2011, Wellman International has filed a petition to place its facility located in Mullagh, Ireland, into examinership. It cited double-digit losses in both 2023 and 2024, due to increased energy prices, and ‘fierce’ competition from ‘low-priced imports from China, Africa and Middle East’, as reasons behind the decision. 

“For more than two years, management has taken action to cope with the situation. Unfortunately, these measures have not proved sufficient to overcome the challenges we are facing. We want to do everything we can to enable the operation to continue in business and retain as much employment as possible. Examinership gives us the best prospect of doing that. It is important, however, that we acknowledge that there is the potential for a reduction in our headcount as part of this process,” commented Anthony Troy, director of Wellman International.

The facility was first opened in 1973 and now employs a staff of 217. Wellman began recycling PET plastics into fibres in the 1990s (at a factory located in Spijk, Netherlands).