Appvion has reached an agreement with the United Steelworkers Union on new collective bargaining agreements for their manufacturing facilities in Appleton WI, West Carrollton OH, and Roaring Spring PA. These new three-year agreements were overwhelmingly ratified by union employees at each facility.
Although Appvion had anticipated closing the sale of the company by the end of May, more time is needed to finalize some outstanding items, none of which will impact day-to-day operations or the company’s emergence from bankruptcy. The closing of the sale is expected to be in mid-June.
In addition, Appvion’s new owners have established a series of incentive and benefit programs that will be implemented upon the closing of the sale. These programs are designed to recognize and reward employee contributions for their hard work and dedication during the restructuring and sale process, and to the company’s future success while balancing the realistic needs of the business now and in the future.