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 Navigator Company announced today that it will increase paper prices in Europe from 6% to 9%.
This increase will be effective for all dispatches from 10th of May, and the Company will inform shortly about the details of the new prices to be applied by product.
This decision was taken following not only further worldwide cost increases in pulp, chemicals and logistics, with structural effects in the profitability of the industry in Europe and across the globe, but also a robust demand for Navigator’s products and brands during late 2020 and the first months of 2021. The Company will continue to tightly monitor the market evolution of key business drivers and act, if required, to correct potential future imbalances between its products prices, raw materials and logistics costs.
The Navigator Company sells its products to 130 countries over five continents, under its paper brands with a strong reputation for superior and consistent quality – Navigator, Discovery, Explorer, Inacopia, Inaset, Pioneer, Soporset and Target.
The Company will continue working to reinforce its partnerships with customers and to appreciate the support provided.