Jasper, Indiana – Associate-Owner shareholders of the Dubois County-based, Jasper Holdings, Inc. Employee Stock Ownership Plan (ESOP) were presented this Summer with news of significant financial accomplishment in the preceding year. Jasper Holdings, Inc. Chairman/CEO Doug Bawel announced a new record price of $774.38 per share. “This is up $214.58 per share over our previous record, a 37% increase in one year,” said Bawel. He went on to explain, “a total of 36,854 new shares were distributed, bringing the total ESOP value allocated to shareholders to over $367 Million since its inception in 2009.”
Bawel shared, “Our ESOP has truly been a game changer for our Associate-Owners in their retirement strategy. We have a total of 2,529 active Associate-Shareholders today; 954 or 37% of those have greater than $100,000 in stock, and 1,468, or 58%, have greater than $50,000.”
The firm was converted to Employee Stock Ownership Plan status in 1987.
“Today, our market capitalization is in excess of $1.115 Billion, a $291 Million increase over 2020. This is Awesome!” Bawel said. “Our JASPER family has been truly blessed by great customers who have been so patient through these material and labor shortages.”
He added, “Our success is a direct reflection of our Associate-Owners and their commitment to Do it Right in these challenging times. We have been Blessed with great Associate-Owners who have continued to stay focused on what is in our control; a never-ending commitment to improvements in Safety, Quality, Productivity, Customer Service, and Reduction of Waste.”
Jasper Engines has been remanufacturing quality products since 1942 and is the nation’s largest remanufacturer of gas and diesel engines, transmissions, differentials, rear axle assemblies, air and fuel components, marine engines, sterndrives, performance engines, and electric motors.
Corporate and remanufacturing operations are located in Jasper, Indiana, where the company operates four remanufacturing facilities. Remanufacturing facilities are also located in Crawford County, Indiana (the site of a distribution center as well) and Willow Springs, Missouri. A second distribution center is located in Kingman, Arizona, to provide greater availability to JASPER’s West Coast Customers.
Annual production includes over 150,000 gas and diesel engines, transmissions, differentials and rear axle assemblies.
Jasper Engines has 2,300+ associates and 50 branch and distributor locations around the nation.