Appleton Coated Customer Update

On September 19, 2017, the Receiver of Appleton Coated LLC conducted a going concern auction of the Company’s assets. The auction was the culmination of a comprehensive marketing effort to find a buyer.

As part of the sale and marketing process, the Receiver requested that all potential buyers agree to hire substantially all of Appleton Coated’s employees as part of any purchase agreement. Unfortunately, none of the qualified bidders that attended the auction were in a position to agree to that request.

The Receiver will ask the Court overseeing the receivership proceeding to approve the highest and best offer he received for the Company’s assets on Friday, September 22, 2017 in Outagamie County Circuit Court.

Due to the auction results, the Receiver must immediately wind down the Company’s business operations beginning Wednesday September 20th and lay off substantially all of the employees of Appleton Coated. A limited number of employees will remain to ensure that the Company’s assets are properly maintained for the new owner until the proposed closing of the sale on September 29, 2017.

Orders for stock product will continue to be accepted. Manufacturing orders that have been produced but not yet shipped, will be shipped. Manufacturing orders that have been accepted, but not yet produced, will be reviewed with new ownership to determine whether they will be produced and shipped. New manufacturing orders will not be accepted at this time.