Loading

49°F

47°F

52°F

47°F

48°F

54°F

52°F

52°F

48°F

53°F

52°F

52°F
NEWS STORIES

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


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

BROKAW - Two central Wisconsin towns may need to take on more than $3-million in debt from a neighboring village.

The towns of Texas and Maine could take on the village of Brokaw's assets and debt if it decides to dissolve.

A paper mill left Brokaw in 2011.

Now its water utility costs much more to operate than it brings in from customers.

+ Read More

MILWAUKEE - The City of Milwaukee is proposing paying $6.5 million to a man wrongly convicted of a 1995 murder.

+ Read More

Play Video

WAUSAU - Sen. Tammy Baldwin (D-Wisconsin) doesn't like Indiana's new religious freedom law.

+ Read More

Play Video

MERRILL - Police used to teach people at schools and public places to stay put and hide if they faced an active shooter situation.

But the Merrill Police Department is helping to change that thinking.

Analysis of mass shootings shows people who run or fight back often have a better chance of survival.

For example, during the Virginia Tech shootings in 2007, 28 of the 30 people who were killed reacted passively, not proactively.

+ Read More

Play Video

RHINELANDER - Some landowners don't want to make changes to their land because they worry those changes will hurt wildlife. But biologists say the opposite is true.

The Wisconsin Young Forest Partnership's goal is to help landowners improve young forest habitat on their properties.

+ Read More

Play Video

MINOCQUA - In Wisconsin, the Great Lakes play an important role in our lives. A program in the Northwoods Wednesday night will take a closer look behind the science of those lakes.

This month's Science on Tap topic is "The Great Lakes, Great Challenges, Great Science." Dr. Jim Hurley from the UW-Madison Aquatic Sciences Center will be the featured speaker.

+ Read More

TOMAH - Whistleblowers and family members of veterans who died at a Tomah Department of Veterans Affairs medical center say they want lawmakers to enforce accountability and reform the hospital.


+ Read More
+ More General News
Search: 




Click Here