8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)
February 12, 2007

Wellman, Inc.

(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction
of incorporation) 1-10033
(Commission File Number) 04-1671740
(IRS Employer Identification No.)

1041 521 Corporate Center Drive
Fort Mill, South Carolina
(Address of principal executive offices)
29715
(Zip Code)

Registrant’s telephone number, including area code: (803) 835-2000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(a)	Not applicable.
(b)	We announced that we will be streamlining our organization in an effort to improve our ability to deliver high quality value added products to our customers and allow us to operate with a more efficient cost structure. We will be reorganizing our chemical-based businesses into one segment with functional reporting lines. Combining our polyester fiber and PET resin segments into one business will permit us to eliminate duplicate costs and maximize the operating performance since our two core businesses have many related functions.
	As a result of this realignment of the organization, effective February 12, 2007, Michael E. Dewsbury, Vice President, PET Resins – U.S., was notified that he is no longer an executive officer of the Company..
(c)	Effective March 16, 2007, David Styka will replace Mark Ruday as Controller and Chief Accounting Officer. Mark Ruday will assume the role of Vice President of Business Operations. Dave Styka is not a party to any material plan, contract or arrangement with the Company except that he participates in the Wellman, Inc. Third Amended and Restated Management Incentive Compensation Plan for the Executive Group; the Wellman, Inc. Restricted Stock Plan, effective June 1, 2004; the Wellman, Inc. Retirement Plan; and is indemnified as an officer of the Company and benefits from the Company’s Directors and Officers insurance. All such plans, contracts or arrangements to which Mr. Ruday is a party were described in the Company’s most recent proxy statement.
(d)	Not applicable.
(e)	Not Applicable
(f)	Not Applicable

Item 9.01. Financial Statements and Exhibits

(a)	Not applicable.
(b)	Not applicable.
(c)	Exhibit
99.1	Press Release dated February 12, 2007

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SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Wellman, Inc.
February 12, 2007	/s/ Mark J. Ruday
	Mark J. Ruday
	Vice President, Chief Accounting Officer and Controller

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EX-99.1

Exhibit 99.1   

Contact:	Michael Bermish
	Investor Relations Officer
	(732) 212-3321

FOR IMMEDIATE RELEASE

WELLMAN, INC. STREAMLINES ORGANIZATION

February 12, 2007, Shrewsbury, NJ — Wellman, Inc. (NYSE: WLM) announced that it will be streamlining its organization which will improve its ability to deliver high quality value added products to its customers and allow it to operate with a more efficient cost structure.

Wellman announced it will reorganize its chemical-based businesses into one segment with functional reporting lines. Combining its polyester fiber and PET resin segments into one business will permit it to eliminate duplicate costs and maximize the operating performance since its two core businesses have many related functions. There will be four principal operating roles: Steve Ates will be Vice President of Sales and Marketing, Mark Ruday will be Vice President of Business Operations, Ian Shaw will be Vice President of Manufacturing and Research & Development, and Joe Tucker will be responsible for Raw Material Procurement and Strategic Development. David Styka will replace Mark Ruday as Controller and Chief Accounting Officer.

Thomas M. Duff, Chairman of the Board of Directors and Chief Executive Officer, stated, “The structure that we just announced is appropriate for our ongoing U.S. operations. It will allow us to focus more on our customers and operate in a more efficient manner, both of which are expected to improve our operating performance. The Company has previously announced that we are exploring strategic alternatives for our non-core businesses, principally our European operations and we will continue with that process. These steps are intended to improve operating performance, cash flow and return to our stockholders.”

Wellman, Inc. manufactures and markets high-quality polyester products, including PermaClearÒ brand PET (polyethylene terephthalate) packaging resins and FortrelÒ brand polyester fibers.

Forward-Looking Statements

Statements contained in this release that are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In addition, words such as “believes,” “expects,” “anticipates,” and similar expressions are intended to identify forward-looking statements. These statements are made as of the date hereof based upon current expectations, and we undertake no obligation to update the information contained herein. These forward-looking statements involve certain risks and uncertainties, including, but not limited to: reduced raw material margins; availability and cost of raw materials; reduced sales volumes; increase in costs; polyester staple fiber, textile and PET resin imports; the actions of our competitors; the financial condition of our customers; availability of financing, changes in financial markets, interest rates, credit ratings, tax risks; environmental risks and foreign currency exchange rates; regulatory changes; U.S., European, Asian and global economic conditions; prices and volumes of PET resin imports; work stoppages; levels of production capacity and profitable operations of assets; prices of competing products; natural disasters and acts of terrorism; and maintaining the operations of our existing production facilities. Actual results may differ materially from those expressed herein. Results of operations in any past period should not be considered indicative of results to be expected in future periods. Fluctuations in operating results may result in fluctuations in the price of our common stock. For a more complete description of the prominent risks and uncertainties inherent in our business, see our Form 10-K/A for the year ended December 31, 2005.

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