After informing the state in September of the possible closure of its flagship Oak Creek location, Superior Die Set Corp. is moving forward with the sale of its facility located at 900 W. Drexel Ave. The company’s two Proplastica facilities in Poland will remain operational.
In a statement, Frank Janiszewski, Superior Die Set co-chair, explained a pending sale of the company’s Oak Creek facility “fell apart” earlier this month.
“We have refinanced our debt and will conduct an auction with the PPL group (auction company during) the early part of next year. We currently have the real estate for sale with Paradigm as our broker,” according to the statement.
Superior Die Set has signed a letter of intent with a soon-to-be-announced local company to acquire its component business.
The Oak Creek facility’s final full day of operations will be Monday, Nov. 20. Approximately 133 employees will lose their jobs, according to a September WARN notice.
Superior Die Set has been in business for 100 years and was founded in 1923. The company is a fourth-generation, family-owned manufacturer of steel and aluminum products. Superior Die Set employs 400 people globally.
Janiszewski previously stated the company intends to “maintain and grow” its Polish operations.
