Continuing its strategy of focusing on its US chemical-based business, US manufacturer of polyester products Wellman, Inc. has sold its European PET Resins business to Sun European Partners, an affiliate of US investment firm Sun Capital Partners, Inc. Terms of the transaction were not disclosed.

The PET Resins business has the capacity to produce approximately 110 million pounds of PET resin annually.

Wellman’s brands include PermaClear brand PET (polyethylene terephthalate) packaging resin and Fortrel brand polyester fibre.