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Non-Tech : Metabolix [MBLX] a Full Disclosure Thread -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (18)11/23/2006 8:51:30 AM
From: Sam Citron  Respond to of 78
If PLA is backyard compostable, that suggests to me that it should be placed with ordinary trash and dumped in a landfill, rather than being seperated out and placed with the PET recyclables.

A friend of mine works at Gap, San Francisco, where I am told they use PLA cutlery and other material in the employee cafeteria. I may have to ask her to get me a spoon for a backyard recycling experiment in my compost pile, which is a vermiculture breeding lab at the moment. ;-)


To: richardred who wrote (18)11/29/2006 11:24:12 AM
From: richardred  Respond to of 78
Wellman Introduces Titanium PET Resins
Wednesday November 29, 8:20 am ET

SHREWSBURY, N.J.--(BUSINESS WIRE)--Wellman, Inc. (NYSE: WLM - News), the largest producer of PET resins in the U.S., announces the introduction of its new PermaClearTi ® packaging resin at PET Strategies in Atlanta. This titanium based, antimony-free product is specifically designed for the carbonated soft drink industry. The new product compliments Wellman's ThermaClearTi®, the premier titanium based resin for hot fill packaging.

Wellman researchers focused on exploiting the polymer properties and performance advantages offered by titanium catalyst. This created a line of patented resins, which are unlocking the potential of PET. Titanium provides significant bottle enhancement opportunities over traditional antimony catalyst systems, which have been the market standard.

According to Michael Dewsbury, Vice President of U.S. PET Resins, "Titanium based PET resins will become the new industry standard as it provides significant bottle enhancement opportunities to our customers over traditional antimony catalyst systems."

Jim Bruening, Wellman's Director of PET Resins Research and Development stated, "Titanium based PET resin is Wellman's strategic technology platform and we believe the industry will follow, making titanium the catalyst of choice. Using PermaClearTi ® and ThermaClearTi® titanium resins will allow our customers to raise filling temperatures, reduce AA, reduce injection cycle times by up to 10%, and provide light weighting opportunities, while increasing clarity"

Wellman commercially produces these patented titanium based PET resins at its world scale plants in Florence, South Carolina and Pearl River, Mississippi.

Wellman, Inc. manufactures and markets high-quality polyester products, including PermaClear® brand PET (polyethylene terephthalate) packaging resins and Fortrel® brand polyester fibers.

ThermaClearTi ® and PermaClearTi ® are registered trademarks of Wellman, Inc.

Forward-Looking Statements

Statements contained in this release that are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In addition, words such as "believes," "expects," "anticipates," and similar expressions are intended to identify forward-looking statements. These statements are made as of the date hereof based upon current expectations, and we undertake no obligation to update the information contained herein. These forward-looking statements involve certain risks and uncertainties, including, but not limited to: reduced raw material margins; availability and cost of raw materials; reduced sales volumes; increase in costs; polyester staple fiber, textile and PET resin imports; the actions of our competitors; the financial condition of our customers; availability of financing, changes in financial markets, interest rates, credit ratings, tax risks; environmental risks and foreign currency exchange rates; regulatory changes; U.S., European, Asian and global economic conditions; prices and volumes of PET resin imports; work stoppages; levels of production capacity and profitable operations of assets; prices of competing products; natural disasters and acts of terrorism; and maintaining the operations of our existing production facilities. Actual results may differ materially from those expressed herein. Results of operations in any past period should not be considered indicative of results to be expected in future periods. Fluctuations in operating results may result in fluctuations in the price of our common stock. For a more complete description of the prominent risks and uncertainties inherent in our business, see our Form 10-K/A for the year ended December 31, 2005.


Wellman, Inc.
Michael Bermish
Investor Relations Officer

Source: Wellman, Inc.

To: richardred who wrote (18)2/24/2008 9:51:17 PM
From: richardred  Read Replies (1) | Respond to of 78
Polyester maker Wellman files for Chapter 11
Friday February 22, 5:44 pm ET

Wellman Inc. has filed for Chapter 11 bankruptcy reorganization.

Along with the filing, the polyester maker has received a commitment from its revolving credit-facility lenders for up to $225 million in debtor-in-possession financing.

The funds, combined with cash from operations, will be used to fund future operating expenses, including employee and supplier obligations.

"Although the company has taken numerous steps to reduce its debt and strengthen its balance sheet through the disposition of certain businesses, headcount reductions and other cost reductions, these actions were not sufficient to offset the deterioration in business conditions and the cost of our substantial debt obligations," says Thomas Duff, chief executive.

The bankruptcy filing allows Wellman (OTCBB:WMAN - News) to operate "while continuing to pursue our previously announced strategic-alternative process," Duff adds.

In October, Wellman hired Lazard Freres & Co., an investment bank with extensive experience in mergers and acquisitions for chemical companies, to explore its options.

Wellman sells polyester to the apparel, home-furnishings, nonwovens, industrial and fiberfill markets. The company is based in Shrewsbury, N.J., but most of its management and corporate staffers work in northern Lancaster County.

Published February 22, 2008 by the Charlotte Business Journal