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The original Milwaukee Electric Tool Corporation was established by A. F. Siebert in 1924 in Milwaukee, Wisconsin. The Siebert Foundation sold Milwaukee to the sugar company Amstar.Merrill Lynch acquired Amstar in 1986, and sold Milwaukee to the Swedish company Atlas Copco in 1995. The company was acquired by Hong Kong based Techtronic Industries from Atlas Copco in 2005. Techtronic is a public company traded on the Hong Kong Stock Exchange. "Milwaukee" is now part of the Techtronic brand portfolio that includes AEG, Ryobi power tools and accessories; Ryobi Homelite outdoor products, Hoover, Dirt Devil and Vax.
The business is now headquartered in Brookfield, Wisconsin, with limited production in US facilities,almost all of its manufacturing is now in mainland China or outsourced. The Techtronic corporate headquarters is located in the Tsuen Wan section of Hong Kong.