- Associated Press - Tuesday, January 31, 2017

FARGO, N.D. (AP) - One of the oldest manufacturing companies in North Dakota has been turned over to its employees.

KFGO Radio reports (http://bit.ly/2jSIAnz) that Fargo-based Hebron Brick Co. was recently sold to the workers through a process known as an employee stock ownership program.

Hebron Brick president Jeff Laliberte says former owner Rodney Paseka wanted to make sure the company remains in North Dakota.

Laliberte says Hebron employees didn’t know they bought the company until they were told in January. He says the employees don’t have to worry about financial responsibilities because the company’s earnings go toward purchasing shares for the employees.

Hebron Brick has 171 employees at seven store locations in North Dakota, South Dakota and Minnesota. The company owns manufacturing plants in Hebron and Mandan, North Dakota.

___

Information from: KFGO-AM, http://www.kfgo.com

LOAD COMMENTS ()

 

Click to Read More

Click to Hide