Wellspring Exits Neucel Specialty Cellulose

Fulida Group Holdings has acquired Neucel Specialty Cellulose from a consortium of investors led by Wellspring Capital Management. Financial terms of the deal were not released. Fulida is one of the world’s largest producers of rayon. Neucel produces hemlock based chemical cellulose that is used in manufacturing processes including rayon filament for garments, pharmaceuticals, consumer products, film, food thickeners and LCD screens.

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