Sacrificial Lamb, The Beloit Corporation Story

The Beloit Corporation story is one of leadership and dedication. A company that began as a small business in 1858 in a rented factory in Beloit, WI started with a capital investment of $4,200 and ten employees. It evolved into a successful company that became the world's largest and most respected manufacturer of papermaking machinery. June 7, 1999 Beloit Corporation’s parent, Harnischfeger Industries filed for bankruptcy. As a result Beloit Corporation suffered the fate of a “sacrificial lamb”. Like the proverbial sacrificial lamb, it was to be dismembered to fulfill its prophecy. Like many other companies that have experienced this scenario, the most valuable asset, the employees that performed so diligently and loyally could not be converted to cash.


Luigi Bagnato brings this story to life in Sacrificial Lamb, The Beloit Corporation Story, a collection of articles, photo essays, images and graphics, highlighting the history of Beloit Corporation from 1848 to the present with a focus on the critical years of the "bankruptcy period" from the filing for Chapter 11 by Harnischfeger Industries. Mr. Bagnato, a employee of Beloit for over 32 years, spent eight years researching and composing this intriguing story.