US Wellman on track to emerge from bankruptcy in Jan

24 December 2008 00:00  [Source: ICIS news]

HOUSTON (ICIS news)--US polyethylene terephthalate (PET) producer Wellman may emerge from bankruptcy in January, following its stakeholders' approval of its reorganisation plan, the company said on Tuesday.

A hearing of the confirmation of the plan is scheduled for 12 January, the company said.

Wellman's lenders have already amended the company's bankruptcy financing, giving it a 31 January deadline to leave bankruptcy protection.

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By: Al Greenwood
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