KAUKAUNA, Wis. (WSAW) -- Expera Specialty Solutions has been sold to Ahlstrom-Munksjö-- a Finland based company.
Russ Wanke, Chief Executive Officer of Expera stated in a news release, “We are very excited about this next strategic and important step for the Expera business. Since forming Expera in 2013 from the combination of Thilmany Papers LLC and the specialty businesses of Wausau Paper, we have invested significantly in our people and operations, focusing on employee engagement, manufacturing excellence, and providing best‐in‐class product quality and support to our customers.”
Expera owns mills in Kaukauna, De Pere, Rhinelander and Mosinee.
Addie Teeters, a spokeswoman for Expera said Ahlstrom-Munksjö will retain Expera's nearly 1,800 employees. Teeters said of the 1,800 employees, 400 work in Rhinelander and 500 work in Mosinee.
Completion of the transaction is expected to take place in the second half of 2018. Teeters said until then, a lot of specific details remain unknown.
"A lot of those basic business functions, such as wages, benefits, just day to day business operations, none of that can start to be even worked on, or looked at, until the actual business transaction is closed," Teeters explained.
It is still clear if Expera will undergo a name change.