Loftness is Now Employee-Owned
Loftness Specialized 婷婷激情五月天 Inc. in Hector, Minn., is now 100 percent employee-owned. It joined an employee stock ownership plan on Jan. 1.
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,鈥 said Gloria Nelson, president and CFO of Loftness.
Loftness Manufacturing was founded by Dick Loftness, a farmer from Hector, 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.
After Nelson鈥檚 death, ownership of the company was split among family members.
Source: West Central Tribune | Member since 1980 |