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August 1, 2018

Midwest Paper Group to invest $30m in Appleton Coated mill, US

Midwest Paper Group has unveiled plans to invest $30m in the former Appleton Coated mill in Combined Locks, Wisconsin, US.

Midwest Paper Group has unveiled plans to invest $30m in the former Appleton Coated mill in Combined Locks, Wisconsin, US.

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The proposed investment is expected to create up to 321 total jobs, as well as 594 additional indirect jobs in the region.

Midwest Paper Group’s parent companies, Industrial Assets and Maynards Industries, acquired the facility at an auction held shortly after the mill was shut down in September last year.

After the acquisition, the two companies tried to sell the plant, but failed to find a suitable buyer.

As a result, they decided to run the mill as an ongoing operation.

“We have received overwhelming support and encouragement to restart this mill – support and encouragement from the owners, community, customers, suppliers, government officials, contractors, and most importantly, our employees.”

Midwest Paper Group president Kyle Putzstuck said: “We have received overwhelming support and encouragement to restart this mill – support and encouragement from the owners, community, customers, suppliers, government officials, contractors, and most importantly, our employees.

“The additional support from the state of Wisconsin being announced today is a further affirmation that we are on the right path and represents a significant investment in continuing the 129-year-old papermaking tradition in Combined Locks.”

The company is receiving up to $1.8m in state tax credits from Wisconsin Economic Development (WEDC) over a three-year period to support its efforts to modernise the former Appleton Coated paper mill.

In December last year, the firm restarted one of its three paper machines for production.

All three paper machines are currently in operation, with about 310 workers at the site.

Furthermore, Midwest Paper is planning to convert the facility that produces printing and writing grades of paper to accommodate the production of packaging grades.

As part of the project, the company will install equipment to facilitate the conversion of waste paper to medium and linerboard used in corrugated and other packaging.

Initially, the company will produce both grade lines, before embarking on the expansion of production of its packaging grades of paper to meet the growing demand for packaging papers.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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