Under the agreement, NEWEDC would purchase the former Printpack facility, renovate the building to fit the potential new use and purchase the equipment used in the RCP manufacturing process. The lease term is for a 6-1/2 year period.
“Rhinelander Coated Products has identified a major growth opportunity for the business that is time-critical,” explained Addie Teeters, RCP spokesperson. “The company appreciates the innovative solution proposed by NEWEDC/OCEDC, and we wish to expand in Rhinelander. We feel this will create long-term economic improvement for the area.”
Previously, Expera Specialty Solutions Rhinelander mill mgr. Jeff Verdoorn was granted a conditional use permit from the city of Rhinelander to increase the height of the former Printpack building, where Expera would have to purchase the property to use the permit. At the time, Verdoorn told the city Planning Commission that Expera is out of space at its existing Rhinelander facility to be able to do “more of the same” with the process equipment it currently has in place.