Shrewsbury, NJ, September 23-- Wellman Inc. said the Department of Justice's antitrust unit notified the company that it won't be seeking an indictment of Wellman or any of its employees on allegations of price fixing in the polyester staple fiber industry.
In July, the polyester product maker issued a statement denying the Justice Department's allegations that the company was involved in a conspiracy to fix prices on polyester staple fiber.
Wellman said at the time that lawyers from the DOJ's Dallas field office were seeking to present an indictment to a grand jury to charge the company in connection with the alleged conspiracy.
Last month, Wellman said it will increase the price of all polyester staple fiber products by 3 cents a pound in order to insulate the company from higher raw material costs.
