COMBINED LOCKS, WI (WTAQ) – A Fox Valley paper company is looking for a buyer after recently filing for receivership.
That’s an alternative to bankruptcy that will allow Appleton Coated to stay open during the selling process.
Senior Vice President Ann Whalen notes this effects more than just their 620 workers.
“It not only affects the employees directly but lots of suppliers of raw materials and services to the mill as well, so it has a big impact to the community.”
The Combined Locks facility makes high-end paper for printing and textbook publishing.
Whalen says digital alternatives have proven to be their biggest challenge.
“This overcapacity is resulting in falling prices and operating losses for our company, as well as many companies in the paper industry.”
Whalen remains optimistic that Appleton Coated will find a buyer.
“There has been a lot of interest and we’re just getting into heavy meetings with interested parties.”
Appleton Coated was last sold three years ago.
