A hearing ended Monday after nearly seven hours of discussion, to decide the future of Appleton Coated and its more than 600 workers. It looks like the future could be a little bit brighter for those workers. During Monday's hearing the judge was supposed to either approve of the $21 million purchase agreement or deny the sale. However, some changes were made to those original purchase agreements after a different offer came through from the employee union and a lending firm. "We will work to do our very best to provide an operating budget to each of the steelworkers and the receiver. We will work very hard. That's not a guarantee, but if it's not done by the end of the day tomorrow it will be done the following day," explained Mark Friedlander, Industrial Assets attorney. Now, Industrial Assets says it will pay $20 million , with more money to provide an operating budget to keep the plant open for 45 days. Over those 45 days Appleton Coated will run with only 200 employees to fulfill current orders. The mill typically employs more than 600 people. Click Read More below for more of the story.

The acquisition of Crane Stationery marks a significant milestone for WP Strategic Holdings as it expands its portfolio into the luxury goods sector. This strategic move underscores WP Strategic Holdings' dedication to fostering the growth and development of companies with rich legacies and a commitment to excellence. Tom O'Connor Jr, former CEO at Mohawk Paper, and instrumental figure in facilitating the acquisition, played a pivotal role in orchestrating the transaction. His extensive experience and deep industry knowledge were invaluable assets in navigating the complexities of the deal and ensuring a smooth transition.

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