Thu October 28, 2021
Bandit Industries plans to build three new production facilities and expand an existing plant in 2022. That is in addition to four building expansions in 2021, one that is completed and three more that are currently under construction.
When all are completed, Bandit's manufacturing facilities will increase from 340,000 to 560,000 sq. ft.
The demand for Bandit products and the backlog has skyrocketed to where Bandit needs to double its 2020 production, a record year for Bandit. Bandit employs 600 people, up from 450 in 2020. Bandit presently has 100 positions to fill and plans to add more employees in 2022 when the new facilities are completed.
Bandit will introduce three new products in 2022 that will add to the product demand.
Bandit is an employee-owned company; thus, all the growth is good for the employees who have a financial interest in the company. The employees are gifted stock each year and because of the success of the company the employee stock accounts are growing significantly. The stock price more than doubled in 2020 and the stock price will increase significantly in 2021.
In addition to the value of the employee share accounts employees receive profit sharing bonuses which are also increasing because of the financial success of the company.
"It is exciting to watch the enthusiasm that employee ownership brings in driving the business upward," said Jerry Morey, president of Bandit. "They are all benefiting from their success."
For more information, visit www.banditchippers.com