DGAP-News: AURELIUS sells Wellman International to Thai Indorama Group
(firmenpresse) - DGAP-News: AURELIUS AG / Key word(s): Disposal
AURELIUS sells Wellman International to Thai Indorama Group
21.09.2011 / 08:30
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AURELIUS sells Wellman International to Thai Indorama Group
* Successful development of the company by AURELIUS since acquisition in
2007
* Company valued at 42 million Euros (enterprise value)
* Indorama to combine globally leading businesses in virgin and recycled
polyester
Munich, 21. September 2011 - AURELIUS Group (ISIN: DE000A0JK2A8) is selling
its subsidiary Wellman International, headquartered in Mullagh, Ireland, to
Thailand-based industrial group Indorama for an enterprise value of 42
million Euros. Wellman has been part of AURELIUS Group since July 2007,
when it was acquired from US-based Wellman Inc. Since then Wellman has
undergone a comprehensive realignment led by AURELIUS and today is Europe's
largest recycler of PET (polyethylene terephthalate) bottles as well as a
leading European producer of polyester staple fibre products. Applications
for which fibres produced by Wellman are used are diverse, ranging from
home furnishings and personal care items such as baby diapers to technical
applications such as automotive, insulation and filtration products.
Wellman operates three production sites. The recycling plants are located
in Spijk, The Netherlands and Verdun, France while headquarters and fibre
production are located in Mullagh, Ireland. In 2010 Wellman achieved sales
of 124 million Euros.
Successful realignment by AURELIUS
Since becoming part of the AURELIUS Group, business structure and
operations of Wellman have been improved significantly. In addition to the
introduction of new and efficient controlling systems, quality assurance
and sales activities have been strenghtened and the product portfolio was
upgraded towards high end fibres for application in the hygiene industry.
Important investments made include a new flake laser sorting machine and
the newly installed bulk delivery bay.
At this years industry tradeshow 'Heimtextil', Wellman furthermore
announced the launch of its new divisional business structure. This new
organization incorporates three new separate divisions, namely Wellman
Smart Fibres, Wellman Hygiene Fibres and Wellman Essential Fibres. This
re-organisation of the business reflects an increasing emphasis on new
technical developments within the company and more clearly defines the
nature and direction of the business moving into the new decade. The new
structure further supports the sharing and development of new technological
advances and innovative concepts with its customers.
'AURELIUS has been a very good shareholder to us. Under their ownership, we
have been able to position us as leading European player. We are now set up
for a prosperous future with strong growth potential ahead. We look forward
to working within the worldwide Indorama network,' says Frank Gleeson,
Managing Director of Wellman International.
'Our intense restructuring efforts over the last four years have been
paying off. Selling the company to Indorama now demonstrates the success of
our business model,' says Gert Purkert, Member of the Board of AURELIUS AG
and in charge of this business.
Attractive platform for strong future growth
Indorama Group is the largest vertically integrated polyester producer in
the world and a leading global manufacturer of wool yarns.Headquartered
in Bangkok; Thailand, Indorama has three polyester verticals, namely PET
resin, PTA and Polyester. Fibres and Yarns are manufactured in 12 countries
on 4 continents. Indorama Group generated revenues of more than 4.6 billion
US-dollars in 2010 and is listed on the Bangkok Stock Exchange. The
acquisition of Wellman by Indorama offers an opportunity to combine a
global leader in virgin polyester with a leader in recycled polyester. This
combination will be of considerable strategic benefit to both Indorama and
Wellman as well as to the common clients who will benefit from increased
innovation and knowledge sharing between the two organizations.
Today, Wednesday, September 21st, 2011 at 3.00 pm CET Dr. Dirk Markus will
conduct a telephone conference for interested investors and members of the
press. To sign-up, please send an email to investor(at)aureliusinvest.de.
About Aurelius
AURELIUS AG is an industrial holding with a long-term investment horizon
focusing on the acquisition of companies with potential for development.
AURELIUS has some longstanding investment and management experience in
various industries. By applying management capacities and the necessary
funding for investments in innovative products, distribution and research
AURELIUS constantly advances its portfolio companies. With offices in
Munich and London as well as portfolio companies in Germany, England,
France, Ireland, the Netherlands and Switzerland, AURELIUS operates
throughout Europe. The shares of AURELIUS AG are traded on the open market
of the Frankfurt stock exchange (ISIN: DE000A0JK2A8). For more information,
please visit http://www.aureliusinvest.com.
About Wellman International Limited
Wellman International is Europe's leading producer of high quality
polyester staple fibers. It manufactures high quality polyester products
from recycled post consumer PET bottles. The company is Europe's largest
PET recycler, processing 1.6 billion post consumer PET bottles annually. It
also leads the industry in the development of new fiber technologies.
Wellman International offers premium products which deliver efficient
throughputs. The company has 40 years of expertise across a diverse range
of markets with guaranteed service provision and technical support. It has
a dedicated research and development function driving innovation.
About Indorama Ventures
Indorama Ventures Public Company Limited, listed in Thailand (Bloomberg
ticker IVL.TB) is a leading producer in the polyester value chain in
Thailand with strong global network and manufacturing across Asia, Europe
and North America. Its products serve major players in diversified end use
markets, including food, beverages, personal and home care, health care,
automotives, textile, and industrial. The company's main products are PTA,
PET and Polyester fibre, which are distributed across the world. IVL has
approximately 7,996 employees worldwide and last 12 months consolidated
revenue of $4.6 billion.
AURELIUS AG
Investor Relations&Corporate Communications
Phone +49 (89) 544799 - 0
Fax +49 (89) 544799 - 55
investor(at)aureliusinvest.de
End of Corporate News
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