Bandit Industries Working To Become Employee Owned

Bandit Industries in Isabella County is working toward being completely employee owned.

The manufacturing company that makes forestry products made the decision after nearly being sold to another manufacturing company and investment banking company.

Bandit says they felt if they were to go through with those sales, the company could change or relocate, ultimately hurting employees.

Now they are looking at an employee stock option plan where the company will be sold to the employees and each employee will receive stock each year based on their earnings.

Bandit says this will allow the company to stay put and will offer long-term growth.

“I for one am very excited for as an employee, but also our customers. I have been with bandit for 21 years and am tickled to know that are going to be staying here and that our customers are going to be able to know that we are always going to be here for them,” says Colleen Hall, Midwest Regional Sales Manager at Bandit.

The employee stock option plan for Bandit is still in the works.