Twin Disc weighs HQ move to Milwaukee
Racine company would lease Third Ward space
A longtime Racine-based manufacturer might be moving its headquarters to Milwaukee’s Historic Third Ward.
Twin Disc Inc. would lease 8,100 square feet on the fourth floor of an office building at 222 E. Erie St.
That’s according to a new building permit application filed with the city Department of Neighborhood Services.
That application, for alterations to that space, lists “Twin Disc Tenant Improvements” as the project name.
Twin Disc executives didn’t immediately respond Thursday to the Milwaukee Journal Sentinel’s request for more information.
Twin Disc in March announced it had agreed to sell its Racine headquarters, including an office building and former manufacturing space, to a group led by Milwaukee development firm J. Jeffers & Co.
At that time, Twin Disc said it would seek smaller space for around 50 employees based at the complex, according to a Racine Journal Times article.
The sale of the Racine headquarters to Jeffers, who’s redeveloped other historic buildings, fell through in August, according to a filing by Twin Disc with the U.S. Securities and Exchange Commission.
The company is listing its longtime Racine headquarters for sale because it no longer uses most of that space, which has been largely replaced by newer industrial buildings in the Racine area.
Twin Disc designs and makes marine and heavy-duty off-highway power transmission equipment, including marine transmissions, propellers, power-shift transmissions and industrial clutches.
Its revenue for the company’s latest fiscal year, which ended on June 30, totaled $242.9 million, with net income of $8.4 million.
The company was founded in 1918 by P.H. Batten.
Current President and Chief Executive Officer John Batten represents the fourth generation of his family’s leadership of Twin Disc.