Uncertainty remains for 600 employees amid pending sale of Appleton Coated
APPLETON (WLUK) -- The future is uncertain for more than 600 Appleton Coated employees.
"There is 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 the top bidder was.
"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.
We reached out to the company for this story, but did not heard back.
In an interview with FOX 11 last month, the Senior Vice President said in a digital age the demand for paper is going down.
"This overcapacity is resulting in falling prices and operating losses for our company as well as many companies for our paper industry," said Ann Whalen during an interview in August.
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 said it 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."