US-based polyester products manufacturer Wellman, Inc. has reported a net loss of $15.3 million for the quarter ended June 30. This compares with a net loss of $25.4 million for the same period in 2005. For the first six months of 2006, Wellman reported a net loss of $34.7 million compared with a net loss of $17.8 million for the same period in 2005.

Tom Duff, Wellman's chairman and CEO, said that demand for PET resins continued to increase in the second quarter and that the company achieved record shipments and sales of Permaclear solid stated PET resin during the period, utilising the additional PET resin capacity (300 million pounds annually) at the Pearl River facility, as of June 1. He added that, while operating results improved from the first quarter, the company did not achieve acceptable margins as its chemical raw material costs increased at a faster rate than it was able to implement selling price increases.