Milwaukee-based Rexnord Corp. spent the first 115 years of its history making process and motion control products.
Then in 2007, the $2 billion company with 8,000 worldwide employees entered water management, an industry that today makes up 40 percent of its sales.
“We started to invest in water businesses because we felt like long term, the growth in the water sector was going to be well above industrial growth, and we wanted to position ourselves to capture that growth,” said Todd Adams, president and chief executive officer.
Rexnord has become so committed to the water management industry over the past eight years that not only did it move its corporate offices into Milwaukee’s Global Water Center, but it also announced in June that it plans to establish the headquarters of its Zurn Industries LLC subsidiary in Milwaukee’s Reed Street Yards.
That will make Zurn, currently based in Erie, Pa., the first company to be located in the Reed Street Yards. A 17-acre property across from the Global Water Center in the Walker’s Point neighborhood, the Reed Street Yards is intended to become a global water technology business park.
“It’s exciting for our business, our employees and our customers to see us investing in our water business, and we’re optimistic that this is one of the many steps it’s going to take to grow our water business and make it even more successful than it is today,” Adams said.
The addition of the Zurn headquarters should also prove meaningful to the future of the Reed Street Yards.
“It’s a significant impact to be able to attract a global headquarters to the Reed Street Yards,” said Dean Amhaus, president and chief executive officer of the Milwaukee-based The Water Council, which operates the Global Water Center. “To get something of this size and magnitude is tremendous. It’s the first step of much more activity in the Reed Street Yards and the entire Water Technology District.”