Wellman to Combine Chemical-Based Units

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Wellman to Combine Chemical-Based Units
Shrewsbury, NJ, February 13, 2007--Wellman, a polyester products and packaging resins maker, said it will combine its polyester fiber and PET resin into one chemical-based business segment.

PET resin is a thermoplastic formed when two substances combine to form a high-resistance resin.

Company investor relations officer Michael Bermish said there would be no layoffs as part of the reorganization.

Wellman said separately it is continuing to explore strategic options for its European operations, a move first announced in September.

As part of the reorganization, Steve Ates, previously business manager PET resins, will become vice president of sales and marketing. Mark Ruday, previously controller and chief accounting officer, will be vice president of business operations.

Ian Shaw, previously Palmetto plant manager, will become vice president of manufacturing vice president of manufacturing and research and development.

Joe Tucker, vice president, fibers and recycling products group, will head raw material procurement and strategic development.

David Styka, director of taxation, will replace Mark Ruday as controller and chief accounting officer.


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