Wellman plant being sold

DAK Americas LLC of Charlotte, N.C., announced Thursday an agreement to buy the polyethylene terephthalate resin business of Wellman Inc. for $185 million. The transaction is expected to close in the second half of 2011 pending regulatory approval. The acquisition includes the PET resin production facilities in Bay St. Louis, Miss. The site has 165 employees and a production capacity of 950 million pounds a year of PET resin. (Source: Sun Herald, 06/16/11)