"This is a logical expansion for Actuant as we seek to gain efficiencies by consolidating our North American electrical businesses and several business unit and administrative operations," says Robert Arzbaecher, chairman and CEO. "We are proud to make this commitment to continue to grow our business in Southeast Wisconsin as our roots in the Milwaukee area go back almost 100 years."
Sheboygan Falls-based Bemis Manufacturing Co. currently owns the building and at one time occupied the space. Bemis moved out six months ago after consolidating its own operations.
According to company executives, Actuant will begin moving into the building in the early half of 2010, after renovations and an expansion project complete. The total square footage of the expansion has yet to be determined. The company plans to move the operations of three electrical businesses to the facility.
Detroit-based Beyond Space will act as real estate financing advisor, strategic program manager and development manager to Actuant.
Beyond purchasing the Bemis building, Actuant has a contract in place to buy a vacant 10-acre site that sits across from the new location. Actuant will build a 100,000-square-foot building on that plot of land. The $15-million project will be complete in the early part of 2011.
According to executives, the new facility will house the support functions of Actuant's Industrial, Energy and Engineered Solutions segment businesses. It will also host the corporate functions, such as executives, human resources and finance.
With these two moves Actuant will keep the 650 current staff jobs in Wisconsin and likely add an additional 140 new positions.
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