A recently formed company in the Milwaukee area with 16,000 employees and $8 billion in revenue is sure to drive up demand for business apartments and other housing options. The new company,Clarios,is going to be based in Glendale and was created after Johnson Controls sold off their car battery business in a deal that went through earlier this year. The buyers,Brookfield Business Partners,created Clarios after the sale for $13.2 million.
Because Clarios now has more than 500 employees in the Milwaukee area,it has instantly become one of the biggest employers in the area. “Our employees are trying to figure out how we got all that done overnight,” Joe Walicki,Clarios’ new president,said in a conference call Wednesday.
Clarios is now the largest car battery business in the world,with estimates saying that 1 out of every 3 car batteries are made by the company. With this new business opening,corporate housing demands are sure to increase as more people move to the area.
The new company will continue to focus on its core automotive markets,Walicki said.
“Quite frankly,we feel our race is far from run,” he said.
Even when the economy isn’t doing well,the company has still turned out profits year after year. They credit this to the fact that they are able to produce batteries at such a low cost and are able to survive during downturns.
Because other industries typically have higher profit margins,Johnson Controls decided to exit the automotive battery business altogether,which led to the sale of this company. Despite Johnson’s assessment regarding the future of the industry,the new buyers aren’t convinced.
“We are proud of the legacy of being part of Johnson Controls,” he said. “But are truly excited about the opportunities that lie in front of us.”