Twin Disc Signs Lease Agreement for Office Location in Milwaukee
24 September 2022 - 6:05AM
Twin Disc, Inc. (NASDAQ: TWIN), a global leader in power
transmission technology for marine, land-based and oil & gas
applications, has announced the lease of an office space in
Milwaukee, WI.
The 8,100 square foot space on the fourth floor of
an office building located on Erie Street in Milwaukee’s Historic
Third Ward will accommodate approximately 25 employees. The Company
expects to relocate its corporate team to the new location in early
2023.
The lease of an office space in Milwaukee, and
tentative sale of its location at 1328 Racine Street, is part of
Twin Disc’s asset optimization strategy. “We continue to find ways
to reduce our footprint and provide more value for our
shareholders, customers and employees,” said John Batten, President
& Chief Executive Officer, Twin Disc, Inc. “We assessed several
locations for the new office space and found that downtown
Milwaukee better suits this subset of employees.”
“Having transitioned manufacturing and assembly
functions to more modern and efficient facilities in the Racine
area, our current space is not being fully utilized,” continued
Batten. “We truly believe that the community will be better served
if our building on Racine Street is redeveloped into a space that
provides more jobs or amenities.”
It’s Wisconsin-based manufacturing and assembly
facilities, located at 4600 21st St, Racine, WI, will continue to
produce industrial products, marine transmissions for the
commercial and pleasure craft markets, and land-based transmissions
used in off-road applications. The Company will continue operations
at its North American Aftermarket Distribution Center, located in
Sturtevant, WI.
About Twin Disc Twin Disc, Inc.
designs, manufactures and sells marine and heavy-duty off-highway
power transmission equipment. Products offered include marine
transmissions, azimuth drives, surface drives, propellers, and boat
management systems, as well as power-shift transmissions, hydraulic
torque converters, power take-offs, industrial clutches, and
control systems. The Company sells its products to customers
primarily in the pleasure craft, commercial and military marine
markets, as well as in the energy and natural resources,
government, and industrial markets. The Company’s worldwide sales
to both domestic and foreign customers are transacted through a
direct sales force and a distributor network. For more information,
please visit www.twindisc.com.
Contact: Jeffrey S. Knutson (262) 638-4242
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