The sale of the Appleton Coated paper mill to a company that plans to close the facility in Combined Locks will be finalized tomorrow.
Outagamie County Judge Gregory Gill approved the sale to Industrial Assets for $20 million. The company will market the mill for 90 days, to see if a buyer would be interested in running it. That’s twice as long under the original agreement.
Outagamie County Executive Tom Nelson says it’s not going to be easy, but they still have a second chance to keep the mill open. He says it’s much better spot than they were in a month ago.
One part of the tentative deal was dropped. About 200 workers were going to come back and run two paper machines for 45 days.
Around 600 mill workers were laid off last month.