Paper Machinery Corporation Becomes Employee-owned Company – Local company announces ESOP, leadership transition and continued growth in Milwaukee
Donald Baumgartner announced today that Paper Machinery Corporation, initiated an Employee Stock Ownership Plan (ESOP), making the Milwaukee-based company 100 percent employee owned. Paper Machinery Corporation has 250 employees in Milwaukee and more than 3,000 installations worldwide. Its machines form paperboard cups and containers for brands like McDonald’s, KFC, Starbucks and Tim Hortons. “This is great news for our employees and great news for Milwaukee,” said Donald Baumgartner, Founder of Paper Machinery Corporation. “The transition to employee ownership will ensure...
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