A local company has acquired a shuttered manufacturing plant on the north side of Milwaukee that resolves a receivership case filed by Spanish company Sic Lazaro.
Sic Lazaro, which manufactured large metal fabrications, counterweights for heavy machinery and mechanical and electrical assemblies, opened its first U.S. location in 2011 at 7040 N. Teutonia Ave.
In February, the company filed for receivership after selling most of its personal property to Cudahy-based Fabricated Metal Products, which also hired almost all of Sic Lazaro’s employees, according to court records.
Last week, an affiliate of Milwaukee-based Bentley World-Packaging closed on its purchase of the 8.5-acre Teutonia Avenue property for $2.1 million, according to state property records. The company paid an additional $400,000 for the overhead cranes in the building, court records show.
Bentley World-Packaging is a supply chain provider of packaging, handling, warehousing and distribution services to manufacturers. The company’s headquarters is on North Port Washington Road, also on the city’s north side, and has warehouses on South Chase Avenue and North 1st Street in Milwaukee, as well as facilities in the Baltimore metro area.
Representatives from the company did not immediately respond to request for comment.
