Roger "White Cloud" Larsen

Roger "White Cloud" Larsen, Appleton, 66, went to be with his savior on Tuesday Dec. 22, 2009, after a valiant, courageous battle of 12 years with prostate cancer. His loving, caretaking wife, Shirley and his children were at his side in his home which he was so proud of. Roger was born in New London on January 16, 1943, to the late Dr. O. Henry and Ruby (Miller) Larsen. After Dr. Larsen died, Ruby married Ralph Wright. Roger graduated from Appleton West High School in 1961. On April 24, 1965, Roger was united in marriage to Shirley Powell. He was employed in the food business for 10 years. Roger was then employed at Appleton Papers for 45 years, retiring in 2002. Roger enjoyed many cruises with Shirley, card playing and joining his friends at the round table of mall walkers.

Roger is survived by his wife of 44 years, Shirley; children, Brian (friend Brenda Zierer), Appleton; Yvette (friend Neil Jenkins) Verhagen, Appleton; and Renee (Steve) Nelson, Winchester; and four grandchildren, Kerri Campshure, Ashley, Branden and Tyler Seidl. He is further survived by Lauri Campsure; brothers, Jeff (Sue), San Diego; and James (friend Donna), Neenah; brother and sister-in-law, Dr. Thomas and Rosalie (Powell) Hennes; nieces and nephews.

In addition to his parents and step father, Roger was preceded in death by his father and mother-in-law, Herb and Marie Powell; half brother Lou Larsen; and half sister, Ethel Wright.

Visitation will be held at ST. MARY PARISH (312 S. State St. Appleton) Monday, Dec. 28, 2009, from 9 a.m. until Mass at 11 a.m. Committal Highland Memorial. In lieu of flowers, a memorial will be established. For on-line condolences, please visit www.oconnellfuneralservices.com. Roger's family would to extend a special thank you to Katie, Mary, Ron, Linda and the rest of the Hospice Team and everyone at Cherry Meadows.

George Marohn News from Bill Stemmermann

FYI: George Marohn News from Bill Stemmermann

Just received this message from DWM and thought you might be interested if you hadn’t heard. I believe George would have been 86, or near there.

“Ken Nissen just called to tell me that George Marohn passed away last Thursday. Jean, George's wife, called him today with the news. Reportedly, George had been bedridden and in failing health for a number of months. I tried to find his obit in the San Pedro and Long Beach newspapers without success.”

Appleton completes sale of C&H Packaging

APPLETON — Appleton has completed the sale of C&H Packaging to InterFlex Group of Wilkesboro, N.C. The terms of the sale were not disclosed. Appleton announced its intentions to sell C&H Packaging in July. The company acquired its wholly owned subsidiary in April 2003.

C&H employs about 80 people at its Merrill facility.The company prints and converts flexible plastic packaging materials the food processing, household and industrial products industries.

Appleton's chief executive officer, Mark Richards, said Appleton intends to focus its performance packaging operations on film production.

The company's film producing facilities include American Plastics in Rhinelander in northern Wisconsin, Milton in southern Wisconsin, and New England Extrusion in Turners Falls, Mass.

In its third-quarter report, Appleton said performance packaging sales had sagged 10 percent to $26.6 million compared with the same period in 2008.

At that time, Richards said the strategy throughout the recession was to stay "intensely focused" on the fundamentals of its business.

Appleton produces carbonless, thermal, security and performance packaging products, and employs about 1,300 people in the Fox Cities.

It has other manufacturing operations in Ohio and Pennsylvania and employs about 2,200 corporatewide.

It is 100 percent employee owned.

Papermaker Appleton has protections from financial ruin in lawsuit over Fox River cleanup

APPLETON — APPLETON — Papermaker Appleton has protections to spare the company from financial ruin despite a judge's ruling in a massive lawsuit over cleanup of the Fox River, a company spokesman said Friday.

"We feel the future of the company is secure," said Bill Van Den Brandt, manager, corporate communications for the firm (formerly known as Appleton Papers). "We're disappointed with the decision and are considering our options for appeal."

In a sweeping decision Wednesday, U.S. District Judge William Griesbach threw out the suit in which Appleton was seeking to spread the estimated $1 billion cost of cleaning PCB contamination to more than 20 other parties. A trial had been scheduled to begin Jan. 4 in Milwaukee. The secondary parties included paper mill owners, municipal wastewater treatment plants and municipalities.

When employees bought the firm in 2001 from former owner Arjo Wiggins Appleton, of London, the paper firm entered into indemnification agreements — secure legal protections — that capped its liability for the cleanup of the river at $25 million, Van Den Brandt said. Appleton fulfilled its financial obligation by paying $25 million last year, he said.

"We have appropriate indemnification and insurance coverage and we're still comfortable with that," he said.

Appleton employs about 1,300 at its Fox Cities facilities.

The company was indemnified for the first $75 million of Fox River liabilities and for amounts in excess of $100 million, Van Den Brandt said.

He said the federal court's decision does not change the status of the six remaining principal parties responsible for dumping PCBs into the river.

"What the decision does is prevent Appleton and NCR from recovering money from entities named in that lawsuit," Van Den Brandt said.

Appleton Papers and NCR produced a carbonless paper beginning in the 1950s that used polychlorinated biphenyls, a chemical later found to be toxic and taken off the market.

Scott Hansen of Milwaukee, one of the defense attorneys affiliated with the Reinhart, Boerner Van Deuren law firm, said the judge's decision settles many issues but far from all in the complex litigation.

"This decision goes a long way toward resolving the issues of the lawsuit," he said. "It does not resolve every issue in the lawsuit. It suggests that at the end of the day NCR and Appleton parties are apt to end up bearing the large majority of the cleanup costs."

But Van Den Brandt took issue with the contention that Appleton and NCR will be saddled with the lion's share of the cleanup tab, which has been estimated at $1 billion between Appleton and Green Bay.

"That's just speculation we'd be held for the majority of the cost," he said.

Appleton's former parent company, Arjo Wiggins Appleton, took out an insurance policy designed to provide up to $250 million worth of coverage for liabilities associated with clearing PCBs from the river, including costs associated with extensive dredging activities the past few years.

AWA paid $88.2 million through 2008 in connection with the liabilities. As of Jan. 3 this year, the total indemnification receivable from AWA was $152 million of which $37.7 is recorded in other current assets on Appleton's books, Van Den Brandt said. A total of $114.3 million is recorded as an environmental indemnification receivable.

Federal judge in Green Bay today threw out a lawsuit filed by papermakers Appleton and NCR Corp.

A federal judge in Green Bay today threw out a lawsuit filed by papermakers Appleton and NCR Corp. to diffuse the estimated $1 billion cost of cleaning up PCB contamination in the Fox River.

It is a sweeping action that cancels a scheduled Jan. 4 trial in the case and seemingly leaves the two companies entirely responsible for the federally ordered river cleanup.

In his ruling, U.S. District Judge William Griesbach wrote that the defendants — including other paper mill operators and wastewater treatment plant operators — were “completely faultless or nearly so” in the PCB contamination that occurred during the 1950s and 60s.

The more than 20 defendants in the case included the cities of Green Bay and Appleton, as well as Brown County and other taxpayer-supported entities.

Papermaker Appleton and NCR filed the suit in January 2008 seeking unspecified contributions from all the defendants for a river cleanup that began this summer and is expected to continue several years. Originally projected to cost about $400 million, the cleanup more recently has been estimated at $1 billion to $1.5 billion.

NCR attorney Kathleen Roach declined to comment on today’s ruling but said that a statement might be issued later.

The Neenah-Menasha Sewerage Commission was one of the parties facing millions of dollars in potential liability under the lawsuit.

“The cities of Neenah and Menasha are extremely happy with this result,” Neenah City Atty. James Godlewski said. “It is not necessarily the end of the line because the plaintiffs can appeal the decision, but it certainly vindicates our position.”

federal judge in Green Bay today threw out a lawsuit filed by papermakers Appleton and NCR Corp.

Appleton replies to Thilmany lawsuit

The company Appleton cited insufficient quality and volume of paper as reasons for its termination of a contract with Thilmany of Kaukauna.

In its answer to a lawsuit filed Nov. 2 by Thilmany, Appleton said it terminated the 2008 salescontract because of "Thilmany's prolonged and continuing failure to provide the volume or quality of thermal base stock Thilmany had promised."

Thilmany alleged it sustained more than $20 million in damages due to a breach of a contract by Appleton.

The companies have requested a jury trial. The case was reassigned to Outagamie County Branch 6 Judge Dee Dyer.

Appleton used base stock from Thilmany to make thermal paper, a product used for point-of-sale receipts and other applications.

In the counterclaim filed last week, Appleton alleges that the base stock had manufacturing defects such as thin spots and holes in the paper that was put through the coating process at its West Carrollton, Ohio, mill. In addition, there were cracks or tears in the edges of the paper that caused breaks and subsequently costly downtime on its coating equipment.

It further claims that from May through July 2009, Thilmany repeatedly failed to make timely deliveryof the base stock Appleton had ordered resulting in a shortfall of more than 2,800 tons.

Also alleged in the suit is that on a cumulative basis, the Thilmany base stock generated web breaks and downtime on Appleton's off-machine coater in West Carrollton at a rate three times the rate of the base stock produced internally at the Ohio mill.

Since May 2009, Appleton has shut down the West Carrollton coating operation between six and eight days each month because of the shortages of usable external base stock supply from Thilmany.

A copy of the original contract is sealed in the file.

Appleton said in an attempt to mitigate damage from Thilmany's alleged breach, Appleton obtained an offer from a competitor that was lower than Thilmany's in the contract.

Bill Van Den Brandt, Appleton's manager, corporate communications, declined comment on his firm's answer because the case is in active litigation.

Thilmany, through its Milwaukee legal counsel, issued the following statement: "Thilmany is a manufacturer of quality paper products. Thilmany had a very satisfactory history of providing paper to Appleton until Appleton found a lower priced competitor to buy from. Upon finding a lower-priced competitor, Appleton's complaints began. The alleged defects Appleton cites were not caused by Thilmany."

link to Appleton 11/2009 10Q filing

http://google.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=6876096-8842-264589&type=sect&TabIndex=2&companyid=96445&ppu=%252fdefault.aspx%253fcompanyid%253d96445

Appleton Reports Third Quarter 2009 Results

Appleton Reports Third Quarter 2009 Results

Appleton Reports Third Quarter 2009 Results
Third quarter 2009 financial highlights Net income of $31.4 million up $61.4 million compared to Q3 2008

Net sales of $222.3 million down 13% compared to Q3 2008, but up 4% compared to Q2 2009

Gross profit margin of 21.1% up 3.7% compared to Q3 2008

Net cash generated from operations of $31.5 million was up $39.7 million compared to Q3 2008

Debt was down $60 million from Q2 2009, including $40.5 million from a debt-for-debt exchange

Selling, general & administrative expenses down 13% excluding $4.2 million debt exchange costs

Borrowing capacity available under the Company's revolving credit facility was $40 million

Year-to-date highlights

Net income of $39.9 million up $91.2 million compared to the same period 2008

Net sales of $648.3 million down 13% compared to the same period 2008

Selling, general & administrative expenses down 16% compared to the same period 2008

Inventories down 10% in 2009

Net cash from operations of $44.1 million was up $49.2 million compared to the same period in 2008

(Appleton, Wis., November 9, 2009) Appleton reported net sales of $222.3 million for the third quarter ended October 4, 2009, compared to net sales of $255.7 million for third quarter 2008. Third quarter 2009 net sales decreased 13.1 percent compared to third quarter 2008. The decrease was largely due to volume shortfalls, price pressure and unfavorable product mix.
Appleton recorded operating income of $7.9 million for third quarter 2009 compared to an operating loss of $13.3 million in third quarter 2008. Despite lower shipment volumes, unfavorable pricing and $4.2 million of costs incurred as a result of a debt-for-debt exchange, operating income in the current period was positively impacted by manufacturing cost reductions, decreased distribution costs and a $5.0 million alternative fuels tax credit recorded as a reduction to cost of sales. Third quarter 2008 included a $17.7 million goodwill impairment charge recorded in the Performance Packaging segment and $5.2 million of start-up costs associated with the Ohio paper mill expansion. Appleton reported net income from continuing operations of $31.4 million for third quarter 2009 compared to net loss from continuing operations of $25.8 million for the same quarter of 2008. On September 30, 2009, Appleton completed a voluntary debt-for-debt exchange which resulted in net debt extinguishment income of $37.4 million.
Appleton's net sales for the first nine months of 2009 were $648.3 million. This was a decrease of 12.7 percent when compared to same period 2008 net sales of $742.4 million. Appleton reported income from continuing operations of $39.9 million for the nine months ended October 4, 2009, which included the $37.4 million net gain on debt extinguishment and $13.0 million of alternative fuels tax credit, compared to a loss of $4.2 million for the same period last year. During the first nine months of 2008, Appleton recorded a $22.3 million net litigation settlement gain; the result of prevailing in a lawsuit to recover previously incurred costs from an insurance carrier, which was partially offset by the $17.7 million goodwill impairment charge.

"We delivered a solid performance for the third consecutive quarter. We reduced spending and inventories, generated strong cash flow of $32 million, improved our balance sheet through $60 million of debt reduction and recorded $31 million of net income," said Mark Richards, Appleton's chairman, president and chief executive officer.
"Our strategy throughout this recession is to stay intensely focused on the fundamentals of our business and the needs of our customers. These results are a testament to the resolve of our employees to execute and deliver improved performance despite the extraordinary economic challenges," Richards stated.

 

Technical Papers third quarter 2009 net sales of $195.7 million were 13.4 percent lower than third quarter 2008 net sales of $226.0 million. Coated solutions net sales decreased $23.6 million, or 17.0 percent, compared to third quarter 2008, primarily due to volume shortfalls in all market channels. Despite a slight year-on-year increase in shipment volumes, net sales of thermal papers decreased $7.7 million, or 9.7 percent, compared to the prior year quarter, while net sales of security papers increased $1.0 million, or 12.0 percent, compared to third quarter 2008.
Technical Papers third quarter 2009 operating income of $13.6 million increased $9.0 million over third quarter 2008 due to reduced manufacturing spending (+$6.2 million), the alternative fuels tax credit (+$5.0 million), lower distribution costs (+$4.8 million) and favorable selling, general and administrative spending (+$1.5 million) which were partially offset by overall lower shipment volumes (-$4.3 million), mill curtailments to match customer demand (-$2.5 million) and start-up costs of the thermal coater at the West Carrollton, Ohio paper mill (-$1.7 million).

Technical Papers net sales for the first nine months of 2009 were $573.8 million. This was 12.9 percent lower than net sales of $658.5 million for the first nine months of 2008. Year-to-date 2009 shipment volumes were 12.8 percent lower than the same period of 2008 with 2009 international volumes 26.3 percent lower than last year. Coated solutions net sales decreased $81.0 million, or 19.3 percent, compared to the first nine months of 2008 due to volume shortfalls in all market channels. Net sales of thermal papers decreased $5.9 million, or 2.8 percent, compared to the first nine months of 2008 due to pressure within the market to lower prices. However, on October 1, Appleton did implement a 5 percent price increase on its thermal point-of-sale grades sold in North America. Net sales of security papers increased $2.3 million, or 8.8 percent, from the first nine months of 2008, due to higher shipment volumes.

Technical Papers operating income for the first nine months of 2009 increased $12.8 million, or 44.0 percent, to $41.9 million due to reduced manufacturing spending (+$15.8 million), lower distribution costs (+$13.9 million), the alternative fuels tax credit (+$13.0 million) and favorable selling, general and administrative spending (+$8.8 million) which were partially offset by overall lower shipment volumes (-$20.3 million), mill curtailments to match customer demand (-$11.3 million) and start-up costs of the thermal coater at the West Carrollton, Ohio paper mill (-$7.1 million).

Performance Packaging third quarter 2009 net sales of $26.6 million were 10.3 percent lower than third quarter 2008 net sales of $29.6. Net sales for the first nine months of 2009 were $74.5 million, which was 11.3 percent lower than net sales of $83.9 million for the first nine months of 2008. The decrease in revenue was due to weaker demand and lower selling prices to the customer in response to lower resin prices.
Third quarter 2009 operating income of $0.9 million was $16.1 million more than third quarter 2008. Operating income of $2.1 million recorded during the first three quarters of 2009, was $14.0 million more than the $11.9 million operating loss for the first nine months of 2008. The operating loss for the three and nine months ended September 28, 2008 included a $17.7 million goodwill impairment charge.
During second quarter 2009, Appleton committed to a formal plan to sell C&H Packaging Company, Inc. ("C&H"). C&H, located in Merrill, Wis., was acquired in 2003 and prints and converts flexible plastic packaging materials for companies in the food processing, household and industrial products industries. The assets and liabilities of C&H are reported as held for sale for the periods ended October 4, 2009, and January 3, 2009. The sale is expected to be completed prior to the end of 2009.

Other (unallocated) includes revenues and costs associated with new business development activities and unallocated corporate expenses. Third quarter 2009 other (unallocated) operating loss increased by $3.9 million, when compared to third quarter 2008, due to $4.2 million of costs incurred as a result of the debt-for-debt exchange. Year-to-date other (unallocated) operating loss increased $0.7 million when compared to the same period of 2008. The increase was due to the previously mentioned costs associated with the debt-for-debt exchange which were offset by reduced selling, general and administrative expenses during the first three quarters of 2009.

Balance Sheet
On September 30, 2009, Appleton completed a voluntary debt-for-debt exchange of significant portions of its 8.125% senior notes payable due June 2011 and 9.75% senior subordinated notes payable due June 2014. Weak economic conditions and frozen credit markets caused many corporate bonds, including those issued by Appleton, to trade well below face value. Appleton took advantage of the opportunity to significantly reduce its total indebtedness, plus extend maturities and simplify its debt structure, by exchanging existing debt at less than face value. This transaction exchanged $92.0 million of senior notes for $92.0 million of newly issued 11.25% second lien notes payable due December 2015 and $110.3 million of senior subordinated notes for $66.2 million of newly issued 11.25% second lien notes. At the same time, Appleton and its lenders under the senior secured credit facilities entered into agreements to amend certain provisions of the credit facilities. In addition, $3.0 million of fees were recorded, $3.7 million of previously capitalized debt issuance costs were written off and a net gain from debt extinguishment of $37.4 million was recorded during third quarter 2009. As a result of these transactions and steady repayment of the revolving credit facility, total debt at October 4, 2009, of $564.9 million, was $60.0 million less than at the end of second quarter 2009.

During third quarter 2009, Appleton generated cash from operations of $31.5 million. This compares to $12.3 million of cash generated by operations during second quarter 2009 and $8.3 million of cash used by operations during third quarter 2008. Continued diligent management of working capital contributed $28.9 million to this quarter's cash from operations. During the third quarter 2009, Appleton contributed $10 million to its pension fund. As of October 4, 2009, Appleton was in compliance with its various debt covenants.

Outlook
Richards said the Company currently expects to see a period of economic equilibrium where business conditions neither deteriorate nor improve significantly. Nonetheless, the Company expects its fourth quarter 2009 results will show significant improvement over the same period in 2008. Richards noted several reasons for that optimism. Appleton felt the greatest impact of the recession in the fourth quarter of 2008. Since then both the economy and the Company have shown improvements. Also, Appleton will continue to benefit from its already completed cost reductions, the strength of its market positions and ongoing growth of its international sales efforts.
"The past 12 months have made us more agile and flexible," said Richards. Richards added that he expects a general economic recovery will be gradual and that the Company is committed to executing successfully throughout that period. "Based on what we have accomplished so far this year, we remain cautiously optimistic about the prospects for continued business improvement in the fourth quarter and beyond," said Richards. "We will build on our many strengths and the confidence our customers have in our ability to serve them."

#

APPLETON — Papermaker Appleton recorded net income of $31.4 million in the third quarter on net sales of $222.3 million, compared with a net loss of slightly more than $30 million in the comparable quarter a year ago, the company reported.

A quarterly year-over-year decrease of 13 percent in net sales was attributed largely to volume shortfalls, price pressure and unfavorable product mix, the company said.

Net sales for the first nine months of the year reached $648 million, the company said.

"We delivered a solid performance for the third consecutive quarter," said Mark Richards, chairman, president and chief executive officer, in a statement. "We reduced spending and inventories, generated strong cash flow of $32 million, improved our balance sheet through $60 million of debt reduction."

Richards said the company expects to see a period of economic equilibrium where business conditions neither deteriorate nor improve significantly.

Nonetheless, the firm expects its fourth-quarter 2009 results to show significant improvement over the same period in 2008.

"The past 12 months have made us more agile and flexible," he said.

Appleton will host a conference call at 10 a.m. today. The call will be broadcast through its Web site, www.appletonideas.com/ investors.

Appleton produces carbonless, thermal and security papers plus performance packaging products.

The employee-owned company employs from 1,200 to 1,300 in the Fox Cities.

Thilmany lawsuit additional info

Thilmany, which supplied Appleton with thermal coating base stock for its West Carrollton, Ohio, facility, is asking for a jury trial.

The case was assigned to Outagamie County Branch 7 Judge John Des Jardins.

A copy of the contract was sealed in the court file.

"Due to the fact that this case has just been filed, we are not in a position to make any comment at this time," Thilmany spokeswoman Addie Teeters said in an e-mailed statement.

"Appleton denies the claims made and is confident this matter will be resolved in its favor," Bill Van Den Brandt, manager, corporate communications at Appleton, said in an e-mailed statement. "Appleton recently exercised its right to cancel its supply contract with Thilmany based on Thilmany's continuing inability to supply the quality and volume of paper required under the contract. In addition to denying all claims, Appleton will respond to this lawsuit seeking appropriate damages for Thilmany's breach of contract."

In its complaint, Thilmany said Appleton entered a four-year contract on Jan. 1, 2008, to purchase 90 percent of its annual thermal coating base stock for its West Carrollton facility from Thilmany. Appleton agreed to purchase 11,000 tons in 2008, 35,000 tons in 2009 and 40,000 tons each in 2010 and 2011. As a result, Thilmany invested more than $3.6 million in an existing paper machine to manufacture base stock for Appleton, the complaint said.

On Dec. 18, 2008, the complaint said, Appleton notified Thilmany it would reduce its purchase of base stock — manufactured paper further processed for a specific end use — to 500 tons per month, by Jan. 1, 2009

Thilmany seeks $20M+ in damages in lawsuit against papermaker Appleton

The Post-Crescent • November 5, 2009

APPLETON — Specialty papermaker Thilmany LLC of Kaukauna has filed a lawsuit against papermaker Appleton alleging Thilmany suffered more than $20 million in damages because of a breach of contract by Appleton.

Appleton has 20 days to respond to the complaint

April 01, 2009
Union employees ratify new labor agreement for West Carrollton mill.

April 1, 2009
The company Appleton Tuesday said it will put about 1,000 salaried employees on two weeks of unpaid leave this year.
All members of the senior management team and all plant and mill managers are included in the requirement to take furloughs before the end of the third quarter, the company said.
The company chose the furloughs rather than order further permanent job cuts, Mark Richards, chief executive officer, said in a statement.
Union and nonunion hourly production and distribution center employees are not required to take furloughs, but they are already affected by either layoffs, shortened workweeks that change to meet order levels or both, the company said.
Richards said the decision was difficult but consistent with the firm's proactive approach toward tough continuing economic conditions.
On Monday, the company reported a net $97.4 million loss for 2008. Richards said all but $4.7 million of the net loss resulted from noncash accounting charges against earnings.
Last fall, the company permanently cut 150 positions from its salaried and hourly staff, doing so in two steps, 75 employees each time.
Bill Van Den Brandt, corporate communications manager, said for the most part the Appleton plant operates on a five-day weekly schedule rather than seven.
"That is a direct result of demand for product being down," he said.
The net loss compared with an annual loss of $6.3 million in 2007.
Appleton also has facilities elsewhere in Wisconsin and in Ohio, Pennsylvania and Massachusetts.

March 30, 2009
Appleton's 2008 net sales from continuing operations were $964.6 million, essentially even compared to 2007, as lower volumes were offset with price and mix improvements. Appleton recorded a net loss of $97.4 million for 2008, compared to a net loss of $6.3 million in 2007. "The key to understanding our 2008 results is to recognize that $92.7 million of our net loss resulted from noncash accounting charges against earnings," said Mark Richards, Appleton's chairman, president and chief executive officer. "Despite the challenges of extremely difficult market conditions, we remained disciplined and focused on making the tough strategic business decisions that will help us achieve our mission of becoming the global leader in specialty paper."
Significant items during 2008
Divested a nonstrategic asset, Bemrose Group Limited, and incurred a $43.7 million noncash impairment charge
Assessed current market value of Performance Packaging business which resulted in a $39.6 million noncash goodwill impairment
Discontinued hedge accounting for interest rate swaps resulting in a $9.4 million noncash charge to interest expense
Strengthened Appleton's position as the world's premier producer of thermal paper by completing a $125-million capacity expansion - resulting in one-time start-up expenses of $14.1 million
Gained additional financial flexibility to operate by negotiating amendments to Appleton's bank debt structure
Fulfilled Appleton's total obligation for the Fox River remediation by paying $25 million
Recorded an $11.6 million gain from market purchases of $40.6 million face value of its senior notes
Reduced selling, general and administrative expenses in 2008 by more than $10 million
Reduced workforce by approximately 180 people to save an estimated $15 million in 2009; incurred a $2.6 million restructuring charge in 2008
Prevailed in the antidumping and countervailing duties petitions against unfairly traded imports of lightweight thermal paper from China and Germany
Signed a global supply agreement to provide microencapsulated specialty chemicals to Procter & Gamble
Received the Wisconsin Governor's Export Achievement Award for large manufacturing exporters