Wellman, Inc. Announces Polyester Staple Fiber Price Increase
May 01 2007 - 5:30PM
Business Wire
Wellman, Inc. (NYSE:WLM) today announced that, effective with June
1, 2007 shipments, it will increase the price of all Fortrel�
polyester staple fiber products by 4 cents/lb. Steve Ates, Vice
President Sales and Marketing, made the announcement noting, �This
price increase is necessary due to continued increases in the cost
of our petrochemical-based raw materials and their feedstocks.�
Wellman remains committed to providing the high level of quality
products and support services that our customers have come to
expect. Wellman, Inc. manufactures and markets high-quality
polyester products, including Fortrel� brand polyester fibers and
PermaClear� and EcoClear� brand PET (polyethylene terephthalate)
packaging resins. 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 this
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; volumes of
textile imports; prices and volumes of polyester staple fiber 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;
inability to execute our strategy; environmental risks and foreign
currency exchange rates; regulatory changes; U.S., European, Asian
and global economic conditions; 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 for the year ended December 31, 2006.
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