Loftness Becomes 100-Percent Employee Owned
HECTOR, Minn. 鈥 As of January 1, 2020, Loftness Specialized 婷婷激情五月天, Inc. has joined an employee stock ownership plan (ESOP). Through this change, the Minnesota-based manufacturer of agricultural and vegetation management equipment is now 100-percent employee owned.
鈥淲e鈥檙e proud to become 100-percent employee owned,鈥 said Gloria Nelson, president and CFO of Loftness. 鈥淥ur employees, as well as the entire community of Hector, mean very much to us, so we鈥檙e excited to present them with this new opportunity to take ownership in the company. It鈥檚 also an exciting time for our dealers and customers, since our dedicated employees will ensure the advancement of our company鈥檚 innovation and legacy.鈥
Loftness Manufacturing was founded in 1956 by Dick Loftness, a farmer from Hector, Minnesota, and initially produced a line of snow blowers. In 1979, Loftness sold the company to another local farmer, Marv Nelson, who helped expand the business into other product lines, including vegetation management equipment, grain bagging equipment, crop shredders, and fertilizer and lime spreaders. After Marv鈥檚 passing, ownership of the company was split between his wife, Gloria, and sons Dave and Steve Nelson. Loftness Specialized 婷婷激情五月天 manufactures the VMLogix line of vegetation management equipment, the GrainLogix line of grain bagging equipment, the FertiLogix line of fertilizer and lime spreaders, and the CropLogix line of crop shredders. For more information on Loftness鈥 complete product line, contact Loftness Specialized 婷婷激情五月天, P.O. Box 337, Hector, MN 55342, call 800-828-7624 (U.S. and Canada) or 320-848-6266 (international), email info@loftness.com, or visit www.loftness.com.