A potential multi-million euro rescue package has been lined up for Wellman International, a recycling and manufacturing business in Co Cavan. Founded more than 50 years ago, the company went into examinership last June after its Thai-based multinational parent, Indorama Ventures, withdrew support for the firm. Staff have now been informed that UG World, a UK-based renewable energy business, has been lined up as a potential investor, a deal that would spare jobs and inject millions into the company. Wellman makes polyester fibre products from recycled plastic bottles and employs 215 people. It racked up significant losses in the last…

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