Wilcox Steel gets $500,000 loan

Funds 'bring people back to work,' to Ashwaubenon plant, CEO says

Green Bay Press Gazette

Wisconsin Department of Commerce Secretary Mary Burke on Friday announced that Wilcox Steel LLC will receive a $500,000 loan, which will help in the restoration of the former Fort Howard Steel plant in Ashwaubenon.

Burke was in the area on behalf of Gov. Jim Doyle to announce the loan, which comes from the Community Development Block Grant program.

"We're very pleased with this development," said Ron Anderson, president and chief executive officer of Wilcox Steel. "We're very happy to bring people back to work."

"If you take the standard economic multiple, that means five to seven times, then we really are creating jobs and support for 300 to 400 families," Anderson said. "And that is what this project and the check today is truly all about — families."

Fort Howard Steel was founded in 1936. In 1990, it moved into a new plant at 1240 Contract Drive in the Ashwaubenon Business Park.

In February 2005, Fort Howard Steel was closed, even though it had enjoyed a record year in 2004, producing more than 40,000 tons of steel with sales near $40 million.

In October 2005, the plant reopened under new ownership, Wilcox Steel. The first shipment left the plant a month later.

The plant produces cold-finished steel bars of various sizes at this plant.

Among the firm's future goals are the addition of an eighth line, and expansion of the plant in early 2007. The addition would represent an additional investment of $5 million.

"We started in production in November, we have 27 employees now and hope to be at 58 by the end of 2007," Anderson said. "These economic development programs, combined with the return of previous Fort Howard Steel employees, form the foundation for a long-term successful enterprise."