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Wellman operating loss slides to $25.5 million in September
By Caroline Salls
Pittsburgh, Nov. 25 - Wellman Inc. reported a $25.5 million operating loss for September on $70.1 million in net sales, according to its monthly operating report filed Tuesday with the Securities and Exchange Commission.
The figures showed a decline from the $6.5 million operating loss posted in August on $77.3 million in net sales.
The net loss for September was $28.2 million, widening from a $9.8 million August net loss.
Cash and cash equivalents on Sept. 30 were $2.1 million, compared with $1.1 million at the end of August.
Wellman, a Fort Mill, S.C., polyester products manufacturer, filed for bankruptcy on Feb. 22, 2008 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 08-10595.
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