Former Appvion reports $8.48 million of net income for July 2-July 29

By Caroline Salls

Pittsburgh, Aug. 23 – Oldapco, Inc., formerly Appvion, Inc., reported $8.48 million of net income for the period of July 2 through July 29 on zero net sales, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

In comparison, the company posted $23.65 million of net income for the period of June 14 through July 1, also on zero net sales.

Oldapco had $6.86 million in cash as of July 29, down from $10.88 million at July 1.

Appvion is an Appleton, Wis., producer of thermal, carbonless, security, inkjet, digital specialty and colored papers. The company filed for bankruptcy on Oct. 1, 2017 under Chapter 11 case number 17-12082.

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