Appleton Coated files receivership petition
Appleton Coated filed a voluntary state Chapter 128 petition for receivership to allow the company’s operations to continue under the supervision of a court-appointed receiver named by the Outagamie County Circuit Court.
Company officials said the court-appointed receiver will lead a process aimed at selling the company’s assets to a buyer that will continue operations.
“Despite the best efforts of our employees and ownership group and the introduction of new products, this step is the best option at this point,” Doug Osterberg, president and CEO of Appleton Coated, said in a press release. “While the company has made significant progress in diversifying its product offerings and entering new markets, the overall business climate is very challenging, and operating under a state court-appointed receiver is the best route to transition the business to sustained profitability.”
Profitability in the North American graphics paper sector has deteriorated in recent years due to digitization of communications and currency exchange rates that favor imports, Osterberg said. These factors produced a decline in domestic demand, excess capacity and aggressive price competition in the company’s traditional coated and uncoated paper businesses.
Osterberg said the filing also will relieve the company’s burdensome debt and help attract an appropriate buyer. Operating results are expected to improve in the near term as the company fills unused capacity by moving into both the high-value graphics and commodity segments of containerboard packaging.
The company’s bank has agreed to fund operations during the receivership and that the business will continue to operate during the transition. The company will be able to pay salary and wages and fund benefits for current employees, Osterberg said.
While operations will continue, a WARN (Worker Adjustment & Retraining Notice) Act notice and
a notice under the Wisconsin Business Closing Law must be provided, according to federal and state law. The notices are required in this case because the structure of the Chapter 128 proceeding technically results in the administrative termination of all employees at the end of the process, even though the receiver will try to sell the operation as a going concern. A buyer of the business will be requested to immediately rehire substantially all employees under its new ownership and operation of the business.
Tweet/Garot to build Wrightstown facility
Mechanical contracting and engineering firm Tweet/Garot Mechanical has purchased 42 acres of property in Wrightstown for a new manufacturing facility.
The announcement from Tweet/Garot Chairman Timothy Howald follows the recent relocation of the company’s corporate headquarters to De Pere.
“Our new manufacturing facility in Wrightstown will consolidate our existing fabrication shops in Green Bay with an eye toward the future,” Howald said in a press release. “Our goal is to design a uniquely lean facility that will give us the space and versatility to become a leading manufacturer of mechanical installation kits and assemblies, while giving us the freedom to continue exploring the cutting edge of modular construction.”
Groundbreaking for the 90,000-square-foot manufacturing facility, to be located along Interstate 41 at the County U interchange in Wrightstown, is expected to take place in October. The facility is expected to be operational in late summer 2018, employing approximately 50.
Oshkosh Defense lands new military orders
The U.S. Army placed another order for its Joint Light Tactical Vehicle program, Oshkosh Defense announced. The order includes 748 vehicles and 2,359 installed and packaged kits. It is valued at more than $195 million and is
the fifth order for JLTVs since the contract was awarded in August 2015.
The company also announced the U.S. Marine Corps awarded it a delivery order valued at more than $16 million for an additional 23 P-19R Aircraft Rescue and Firefighting vehicles. Oshkosh began fielding the first P-19Rs in June of 2017 and in total, Oshkosh will deliver 164 P-19Rs through 2019.
Amerequip to produce arms for McNeilus refuse vehicles
Amerequip, a Kiel-based designer and manufacturer of custom equipment for the lawn, landscape, agricultural, construction and industrial markets, has begun manufacturing three types of refuse vehicle arms for McNeilus Truck and Manufacturing, a division of the Oshkosh Corp.
“Our expanded manufacturing capabilities, our highly trained workforce and our commitment to quality all played a role in helping us secure this work with McNeilus,” Mike VanderZanden, president and CEO of Amerequip, said in a press release.
During the past six years, Amerequip has invested more than $25 million in expanding and improving facilities, equipment, training and personnel.
Kondex launches apprenticeship program
In response to a growing demand for maintenance professionals within the manufacturing industry, Kondex launched a maintenance mechanic apprenticeship program.
The four-year, state-indentured program consists of 8,000 combined hours of classroom and on-the-job training working under the company’s experienced maintenance mechanics. Participants can complete schooling at any participating Wisconsin technical college, with all tuition, books and fees paid by Kondex.
Upon completion, participants will be recognized as journeyman maintenance mechanics and be fully prepared for a variety of tasks associated with installing, servicing and maintaining production equipment and machinery.
Waupaca Foundry receives environmental award
Waupaca Foundry, a Hitachi Metals company, received Kawasaki Motor Manufacturing Co.’s Environmental Stewardship Award, the company’s fourth award from the engine maker since 2011.
In awarding the honor to Waupaca Foundry, Kawasakirecognized both the Waupaca-based gray iron foundry and the Marinette-based ductile iron foundry with the award. Waupaca Foundry previously won Kawasaki’s Environmental Stewardship Award in 2013.
In addition to the two environmental awards, Waupaca Foundry received Kawasaki’s 2011 Cost Savings Award and its 2012 Supplier of the Year Award.
Waupaca Foundry — like other metalcasters — is an energy-intensive manufacturer, and for more than a decade the iron casting supplier has sought smarter ways to use and conserve the planet’s resources. The company has a 10-year sustainability plan in place that seeks to reduce energy intensity usage, promote alternative processes and maintain pollution control technologies, reduce spent foundry sand generation while promoting offsite reuse/recycling opportunities of remaining spent foundry materials to achieve zero landfill disposal, and
reduce water consumption.
