Milwaukee manufacturer's owners give company to employees
10:33 AM, May 3, 2016
2:20 PM, May 3, 2016
MILWAUKEE (AP) -- The owners of a Milwaukee-based paper machine manufacturer have delighted their employees by handing them the keys to the 65-year-old company.
The Milwaukee Journal Sentinel reports that Donald and John Baumgartner of Paper Machinery Corp. made the announcement Monday at an employee meeting in front of the company headquarters. The transition to an employee stock ownership plan could eventually put hundreds of thousands of dollars into the retirement accounts of some longtime workers.