Diamond Discs to move to Milwaukee

West Allis firm gets $534,000 loan for building

A West Allis company that distributes tools and other construction industry equipment is planning to move to Milwaukee’s far northwest side.

Diamond Discs International Inc. plans to buy a 21,400-squarefoot building at 9300 W. Heather Ave. and move there from 8530 W. National Ave., according to information filed with Milwaukee Economic Development Corp.

MEDC, a nonprofit business lender, on Tuesday approved a $534,000 loan to help finance Diamond Discs International’s purchase and renovation of the building and purchase of equipment.

Town Bank is the primary lender on the $1.3 million project.

Company executives couldn’t be reached for more information about the move.

Diamond Discs is a wholesale distributor of construction tools, power tools, power gas saws, safety equipment and professional-grade diamond blades and diamond core bits used in the construction industry. Its president and owner is Ugo Nwagbaraocha.

The company has 11 full- and part-time employees and plans to add an estimated 22 employees over the next two years, according to MEDC.

MEDC also approved a loan for a similarly named but different company, Diamond Precision Products.

That $1.6 million loan will help finance a $6.5 million purchase of new equipment, said David Latona, MEDC president. Johnson Bank is the primary lender.

Diamond Precision Products, a precision machining firm, is also on Milwaukee’s far northwest side, at 11000 W. Heather Ave. Its president is Bryan Weiss, and it’s a division of Saelens Corp., based in Johnson Creek.

Diamond Precision Products has 40 employees and plans to add 25 employees over the next two years, according to MEDC. It expanded from Johnson Creek to Milwaukee in 2011.