Manufacturing

A local flooring company has expanded its business presence all the way to Asia.

Milwaukee-based ER Wagner Manufacturing Co. Inc. is in the process of acquiring 32 acres of land in Menomonee Falls, according to president and chief executive officer Lew Schildkraut. The property is located east of Highway 41/45 on Old Orchard Road. The scheduled closing date is Aug. 20. The company is considering plans to relocate its operations to the site.

Milwaukee-based Harley-Davidson Inc. recalled 185,000 motorcycles in July to address an issue with loose saddlebags.

Glendale-based Johnson Controls Inc. recently announced it plans to spin off its Automotive Experience business to create a separate company.

The tax-free split would form a new publicly traded company, and is expected to be finished in about a year. Johnson Controls did not say where the new company will be based.

Kenosha-based tool manufacturer Snap-on Inc. announced today that it acquired the assets of Italian manufacturer Ecotechnics S.p.A. for approximately $13 million.

Milwaukee-based Strattec Security Corp. reported fiscal fourth quarter net income of $1.9 million, or 33 cents per share, down from $6.4 million, or $1.58 per share, in the fourth quarter of 2014.

More than 60 percent of manufacturers reported that they are in growth mode, according to The Paranet Group's 2015 mid-year survey. That is down from 73 percent at the end of 2014.

MillerCoors today reported second quarter net income of $494.5 million, up from $451 million in the second quarter of 2014.

When Henry Schwartz was looking for investment in his Madison-based business, MobCraft Beer, he took a unique path: equity crowdfunding.