ITO Industries and Advance Boiler have closed

Manufacturers liquidating assets

Two local businesses have closed up shop and are in the process of liquidating their assets.

Bristol-based ITO Industries Inc., which was founded in 1980, manufactured printed circuit boards in a 30,000-square-foot facility. It specialized in prototype, quick-turn and mid-volume production for the aerospace, consumer electronics, instrumentation, transportation, communications, industrial electronics, health care and environmental controls industries.

ITO filed for Chapter 7 bankruptcy in March, and is in the process of liquidating its assets. There are more than 200 creditors listed in the filing, and the company owes about $2.8 million. Neither president Daryl Ito nor his attorney, Paul Lucey, could be reached for additional information about the closure.

West Allis-based Advance Boiler & Tank Co. LLC has closed and is in the process of selling off its equipment. Founded in 1919, Advance built and maintained stationary boilers in southeastern Wisconsin. It focused on the power generation industry, and specialized in ASME pressure vessel fabrication. As of 2011, the company had 35 employees at its 100,000-square-foot facility. Its refractory division, Advance Thermotec, made heat-resistant materials used in boilers and heat-treating applications.

Owner Kenneth Griffioen could not be reached for comment.

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Molly Dill, former BizTimes Milwaukee managing editor.

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