Village paves way for metal firm’s expansion

Board OKs $100,000 revolving fund loan to help Oldenburg Metal Tech grow

OLDENBURG METAL TECH Operations Manager Jeff Decker (front) stood beside the company’s punch press as toolmaker Ben Herzinger worked the machine. The company will purchase an even larger punch press with a $100,000 revolving loan from the Village of Saukville and an identical loan from Ozaukee County. Photo by Sam Arendt
By 
JOE POIRIER
Ozaukee Press Staff

Oldenburg Metal Tech is seeking to expand its operations with help from the Village of Saukville, which approved a $100,000 revolving fund loan for the tool-and-die manufacturer Tuesday.

“Our customers are asking us to expand our capabilities so we can do more work for them,” the company’s operations manager Jeff Decker said. “The loans will make it more palatable for us to expand our operations.” 

On Tuesday, March 20, the Saukville Village Board approved a $100,000 loan for the company to purchase a new punch press for its facility at 775 N. Progress Dr., the former GenMach building. 

On Wednesday, the Ozaukee County Executive Committee was to consider an identical loan that would have a term of five years that is to be paid off after 10 years at an interest rate of 2.25%.

“All indications are it’s going to be a go for the project,” Decker said.

Originally a Port Washington-based company, Oldenburg opened a second location in Saukville a few years ago and has seen steady growth in its customer base, which includes businesses in the medical, automotive and outdoor power equipment fields. 

“We have some clients that are asking us to pursue larger equipment so we can do work with them, and our current customer base is asking for that too,” Decker said. “Having larger equipment will separate us from a lot of other shops.”

Decker said the company is currently designing and making large progressive dies for both its automotive and appliance customers, but due to the large size of the dies, the company is forced to rent press time and outsource services to their competitors because the press is not big enough.

The current bed of the punch press is 48-by-102 inches, and the new press will be a 61-by-145 inches. 

“We basically want to keep everything in house,” Decker said. “It’s harder for us to outsource the bigger work overseas.”

With the purchase of the new press, Oldenburg will expand the size of its Saukville facility from 15,000 to 31,500-square feet to provide more room for the new equipment. 

“We moved to Saukville a few years ago and we are already out of space,” Decker said.

The value of the building is $920,000, and it’s expected to grow to $1.2 million after construction.

The company has 47 employees and will hire six more full-time employees within the next two years, which is also part of the loan agreement. The jobs will be recruited through the Ozaukee County Workforce Development Center, and the company agrees to hire 51% of its employees from low to moderate-income households.   

The company is also requesting assistance from Commerce State Bank and the Small Business Administration, which are currently negotiating two loans for $821,500 each.

According to Ozaukee County documents, the revolving loan will have no direct fiscal impact on the county. The money is granted to the county through the state’s Community Development Block Grant program, and the funds can only be used to loan money to businesses that qualify. 

Oldenburg received a $40,000 loan to purchase equipment from the county in 2010. The company’s balance on that loan is $11,660.

“We want to continue seeing ourselves growing and set ourselves apart from our competition,” Decker said. 

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Wisconsin’s largest paid circulation community weekly newspaper. Serving Port Washington, Saukville, Grafton, Fredonia, Belgium, as well as Ozaukee County government. Locally owned and printed in Port Washington, Wisconsin.

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