Appleton to Explore Sale of C&H Packaging
July 28, 2009 - Appleton said that it intends to explore options to sell C&H Packaging Company, a wholly-owned subsidiary Appleton acquired in April 2003.
C&H Packaging is located in Merrill, Wisconsin, and prints and converts flexible plastic packaging materials for companies in the food processing, household and industrial products industries.
C&H employs approximately 100 people.
Appleton's chief executive officer, Mark Richards, said that Appleton intends to focus its performance packaging operations on film production. Appleton's film-producing facilities include American Plastics in Rhinelander, Wisconsin and New England Extrusion in Turners Falls, Massachusetts and Milton, Wisconsin.
Appleton said it is evaluating the impact that a potential sale of C&H Packaging will have on Appleton's financial statements; such impact could be material.
Appleton said that it can offer no assurances that a transaction will occur or, if one is undertaken, its terms or timing.
The company said it won't provide additional public comment about the progress or developments of this process unless its board of directors enters into a definitive sales agreement with a potential buyer.
Headquartered in Appleton, Wisconsin, Appleton produces carbonless, thermal, security and performance packaging products. The company has manufacturing operations in Wisconsin, Ohio, Pennsylvania, and Massachusetts, employs approximately 2,200 people and is 100 percent employee-owned