His business goal at this time was to improve on the Hole-Shooter and repair other manufactures tools gaining ideas of what needed to be changed in order to increase the longevity of tools on the market at that time. In 1924, Seibert purchased the remaining assets and formed the Milwaukee Electric Tool Corporation. Their production facility was destroyed by a fire in 1923 and the business went to public auction after closing shop due to the losses in the fire that destroyed their facility. Petersen gained a business partner by adding Albert F. History: Pre-Milwaukee Electric Tool Corporation Ī.H. 1 History: Pre-Milwaukee Electric Tool Corporation.
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