Virtus Holdings Acquires Appleton Coated

To assist the management team with the acquisition, the Wisconsin Economic Development Corporation (WEDC) is providing Appleton Coated with a $4 million loan for the purchase of equipment.

The company will be required to maintain the existing 570 jobs and create 27 new jobs under the terms of the loan. Up to $1 million of the loan may be forgiven depending on how many jobs are created and retained over the next five years.