APPLETON, WI (WTAQ-WLUK) – The future is uncertain for more than 600 Appleton Coated employees.
“There is a pending sale right now,” said Outagamie County Executive Tom Nelson.
Earlier this week, the company was auctioned off. The sale has not yet been finalized, and it’s still unclear who was the top bidder.
“There were either one or two bidders, but there have been a number entities that have been interested in Appleton Coated,” explained Nelson.
According to court documents, the sale could be finalized at a court hearing Friday in Outagamie County Court.
“I will be filing an objection to the proposed sale. Because we want to make sure that all the bidders out there will have enough time to do their due diligence, to put forth proposals, and hopefully someone will come forward that will commit to continue running at its current scale,” said Nelson.
Last month, the company filed for receivership, which allows the company to operate while looking for a new buyer.
Appleton Coated makes products used in high-end commercial printing, textbook publishing, and a variety of specialty packaging.
A decrease in demand for paper during a digital age has been cited for the company’s struggles.
The company has been a major employer for the area for decades.
“Companies are hiring all over the place, and there will be a lot of places looking for them,” said Jim Golembeski, with Bay Area Work Force Development.
Golembeski says his organization is working with the company, should a new owner choose to lay off workers.
“When the time comes, we know what we’re doing. We’re going to go in and provide those workers with everything they need to move one.”
