May 2025 Volume 7

INDUSTRY NEWS

MILWAUKEE FORGE IN A STATE COURT RECEIVERSHIP PROCEEDING 112-Year-Old Milwaukee Company Will Continue Operations as it Negotiates a Going Concern Sale

M ilwaukee Forge announced it has filed a petition under Chapter 128 of Wisconsin State Statutes. The petition, filed March 25, 2025, in Milwaukee Circuit Court, is a strategic business move to position the century-old Wisconsin company for new growth, according to President and CEO Dave Mesick. Chapter 128 is similar to Chapter 11 of the federal bankruptcy law, but is a more efficient, streamlined process, Mesick said. He indicated that the Chapter 128 filing will not affect day-to-day operations at the company’s plant in Bay View, which produces component parts for large-scale manufacturers. The company, which began in 1913, currently has 80 employees. Michael S. Polsky, a Milwaukee lawyer, will be the court appointed receiver at the company’s request. The company’s lender has agreed to the process. “It’s business as usual. All jobs will remain in place and customer orders will continue to be filled throughout the court supervised process,” Mesick said. The company and Polsky’s financial advisors, who will oversee the sale process, have been in discussions with several parties interested in acquiring the company as a going concern. Any proposed sale is subject to court approval and higher or better bids, according to Polsky. “While the past several years have been difficult for everyone in the manufacturing industry, we are deeply committed to doing everything we can to ensure Milwaukee Forge meets the economic turnaround on solid footing,” Mesick said. “We are grateful for the support of our outstanding workers, customers, lender and vendors. Our desire is to remain a great corporate citizen and dedicated employer in Milwaukee, and to continuing the quality work we’ve done for nearly a century.”

About Milwaukee Forge Milwaukee Forge is an international forging and heat-treating facility that has been forging solutions since 1913 for the agriculture, off-highway, construction and mining industries. The company specializes in quality closed impression die hot steel forgings that meet customers’ specifications and deadlines. The company is known for prompt, professional service, experienced management with a hands-on work approach and employees empowered to keep improving operations. Milwaukee Forge is located at 1532 E. Oklahoma Ave. in Milwaukee, and more information is available at www. milwaukeeforge.com.

FIA MAGAZINE | MAY 2025 76