APPLETON (From news reports) -- Soon after the company was sold to a new owner, Appvion announced the purchase of new equipment.
Wynnchurch Capital, L.P. took over the Appleton-based company formerly known as Appleton Papers in December. Wynnchurch is a private equity firm headquartered in Rosemont, Illinois, near Chicago.
Meanwhile, Appvion on Thursday announced "a significant investment in new equipment."
"This is the largest single investment made in our Appleton plant for many years and marks the start of a new and exciting journey for the Appvion team," CEO Laurie Andriate said in a news release. "The investment provides many benefits for Appvion and our customers, including elimination of 'double-handling' of rolls to improve productivity as well as safety of our people."
When asked to explain more about the new equipment, an Appvion spokesperson wrote, "(w)e are not disclosing the investment of our new curtain coating technology due to the competitive nature of the business we operate. While we do invest in our facility every year with normal capital investments, this is a significant deviation from that."
Appvion makes direct thermal coatings for labels and films, along with packaging products.