1989 FIN – Wrought Washer Acquires MSL Stamping
June 10, 1989 FIN – Wrought Washer Mfg., Milwaukee, Wisconsin has acquired MSL Stamping, Joliet Illinois.
Edward Prium president of Wrought Washer, plans an orderly transfer of machinery, equipment and personnel from the MSL plant in Joliet to Wrought’s facilities in Wisconsin over the next 12 to 18 months. After the transition, the MSL plant will then be closed.
Brium said 75 to 100 jobs will be transferred to Wrought’s 220,000 sq. ft. headquarters and or to new facilities Wrought plans to open in the near future.
According to Pruim, as a result of the MSL acquisition, Wrought’s production capacity has now doubled to create one of the largest full line washer manufacturers in the world (probably the largest in the U.S.) with total annual sales of about $44 million.
The company markets through a consolidated sales organization of 27 representative firms which sell to industrial distributors, fastener manufacturers and OEMs.
Wrought Washer, a 102-year-old, privately held corporation was acquired in early 1986 by a group of investors headed by Pruim.
Also in 1986 Wrought acquired the Luebke Corp, Brookfield, Wisconsin, a contract precision machining and allied services company.
In 1988 Wrought Washer acquired Franklin Tool & Mfg Co. Inc., Berlin, Wisconsin, a producer of dies, fixtures, special machinery and prototypes.
According to Pruim, Wrought Washer will continue to build a metalworking based conglomerate of compatible companies with marketing concentration in the central U.S.
Pruim also tells FIN that other acquisitions and joint ventures are currently pending which we’ll hear about during 1989.
Wrought Washer is headquartered at 2100 S. Bay St. Milwaukee, WI 53207. ©1989/2015 Fastener Industry News.
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