New Indorama company ‘will not be involved’ in Wellman examinership

Each hand moving on the clock is a day closer to September 11, 2025.

That date will mark one hundred days since Wellman International filed for examinership, the final day for the process, which is hoped will save the company and over 200 local jobs.

Today (Wednesday) marks 37 days since the company shared the news and, since then, local representatives and union chiefs have been rallying around to save the business, which is based in Mullagh.

Founded 53 years ago, the Wellman facility is one of Europe’s leading producers of high quality polyester fiber products from recycled post-consumer PET bottles. These are utilised in a broad range of industrial sectors including automotive, hygiene, home insulation, and leisure products. The business was sold in 2011 to global chemical giant Indorama Ventures.

The company filed for examinership on June 3, a move Wellman said was made to save the long-standing manufacturing operation, which has grappled with steep financial losses over the past two years.

Wellman’s accounts for 2024, compared to the previous year, show stark deterioration - “double digit” million euro losses.

As those with ties to the company wait for some sort of clarification on the situation, some were confused to learn that a new company INDORAMA IRELAND SERVICES LIMITED, was registered on June 24, 2025, to the same address as the Mullagh factory. It’s a private company, limited by shares. The move has raised some questions.

In a statement, Aontú Senator Sarah O’Reilly asked why was this new company created?

In a press release and online video, she expressed concern about the purpose of the new entity.

Senator O’Reilly says she has written to the Office of Corporate Enforcement to ask if it will investigate “whether or not there is a conflict of interest in this instance”.

She’s calling for “fairness and clarity” for workers, some of whom have been working for Wellman for almost 50 years.

In an update to the Celt, an Indorama spokesperson assured workers and the public: “Together with the examiner we are doing everything we can to deliver a successful examinership that preserves as much employment as possible. The process remains ongoing and, as such, it is not appropriate to comment further on specifics at this stage.”

In relation to the creation of a new company, the spokesperson clarified: “This company is not and will not be involved in the examinership process. It was incorporated for the purpose of transferring a certain small number of roles, which are wholly or mainly engaged in activities of the Indorama Ventures Group regionally and/or globally.”

Sen O’Reilly added: “I’m not saying there is anything untoward going on, however, we need to make sure that workers’ rights are protected and that they get timely and good information. The key issue here is transparency, all stakeholders, trade unions and the workers in Wellmans need to be kept informed of what is happening and why.

“The workers need to know what is going on in their own lives.”