Loading
Search
NEWS STORIES

Rhinelander's Mayor cautiously optimistic mill buyer will keep plant openSubmitted: 03/22/2013

Lane Kimble
Managing Editor/Anchor
lkimble@wjfw.com


RHINELANDER - We need to wait awhile to figure out how the sale of Wausau Paper's Rhinelander and Mosinee mills will really effect the communities.

But Friday night, we did find a sense of cautious optimism coming from city leadership.

Rhinelander Mayor Dick Johns worked at the paper mill from 1955 to 1994. He's seen plenty of changes at the plant over the years, including three separate sales.

That past experience keeps him hopeful for the future.

"Confident's not a good word, but I'm hoping that it will be," Johns said. "That's important to all of us. You know, we have PrintPack down on the other side of town, that's an improvement to our community and we're proud of that and we're proud of that paper company."

KPS Capital Partners in New York invested $130 million to buy the two Wisconsin mills.

They're offering Wausau Paper 25 percent ownership in the new paper company they plan to form. Wausau Paper claims the investment group has "significant experience" in the paper business.

Mayor Johns hopes KPS understands Rhinelander needs to keep its mill.

"Any industry in this day and age is important to the community, especially when it's over 100 years old, you've had it here and it's been a part of your community for those many years," Johns said.

The sale isn't official just yet. There are seveal steps to go through, including establishing a new collective bargaining agreement with the unions.

Wausau Paper hopes to wrap things up by the end of the second quarter this year.

KPS invested in Waupaca Foundry, Inc., based in Waupaca, Wisconsin. Just last month, Waupaca Foundry dolled out a $200 million return to investers.

Text Size: + Increase | Decrease -
| Print Story | Email Story
Sponsored in part by HodagSports.com





 IN OTHER NEWS

Play Video

RHINELANDER - Mr. and Mrs. Claus joined Rhinelander families on Saturday for the annual Christmas Parade and Tree Lighting.

The theme of this year's parade was "Rhinelander: Home for the Holidays." 

Families enjoyed watching the parade of floats and taking pictures with Mr. and Mrs. Claus.



+ Read More

Play Video

TOWN OF CRESCENT - The ongoing debate of forming a lake district around Squash Lake near Rhinelander continues.

+ Read More

Play Video

MERCER - The annual Mercer's Senior Christmas Party brought nearly 40 people together Sunday to kick off the holiday season.

This time every year, the Mercer Lioness Club puts together the Christmas party. The Lioness Club donates food and other baked goods.

+ Read More

Play Video

WAUSAU - Families often come together to unwrap presents and bond during Christmas. But one family took the Christmas spirit a step further by teaching other families about the roots of some famous Christmas traditions. 

"It's great that I can help them experience something different for Christmas and see that kind of glow in their eyes," said Curator of Events Sara Goetsch.

+ Read More

Play Video

RHINELANDER - Mr. and Mrs. Claus took a trip to the Home Depot in Rhinelander Saturday. They may have not taken their reindeer to get here, but their grand entrance still didn't disappoint. They, along with a few elves showed up on a firetruck.

+ Read More

MADISON - The presidential recount vote underway in Wisconsin is costing millions of dollars, diverting county workers from their normal end-of-year duties, and raising questions about the integrity of the vote.

It isn't, however, expected to overturn Donald Trump's victory in the state.

+ Read More

Play Video

WAUSAU - Pets add laughter, joy, and tons of entertainment to the families they join. If those pets go missing, it's an experience no family wants to go through. 

One woman in Wausau is making a difference for the pets and families in her community.

+ Read More
+ More General News
Search: 





Click Here