Port Washington-based foundry equipment manufacturer Modern Equipment Co. LLC will close its doors later this year, eliminating the jobs of up to 59 employees.
Modern Equipment’s facility is located at 369 W. Western Ave. The company was acquired by New York-based private investment firm Dunes Point Capital in 2014 when Dunes Point acquired industrial and chemical businesses owned by Alco Industries.
Modern Equipment Co. was founded in Milwaukee in 1919.
In a filing sent to state officials, the company said the closure would affect all employees at the facility, but 25 salaried and administrative employees would have an opportunity at a “separate but related business.”
“That related business may be outside regular commuting distance, however, so Modern Equipment is providing all employees notice as it is currently unknown how many of those employees will be affected,” the filing said.
The company said separations would take place in stages starting July 10 and continuing through Sept. 29. The exact process is still being finalized.
Production and maintenance employees at the facility are represented by District 10 International Association of Machinists & Aerospace Workers, AFL-CIO Local 66.
The Waukesha-Ozaukee-Washington Workforce Development Board’s Rapid Response Team will also contact the company to offer Rapid Response Services.
