Post by kevin1 on Oct 12, 2006 20:46:03 GMT -5
This morning , not long after I arrived at work , we finally got the answer to a question that had been floating around the plant for a few months . They took us via a chartered TARC bus to the Galt House Hotel , and during a three hour meeting we got acquainted with the folks who'll be paying us from this point forward . A company that we had been buying rock bolts and assorted fasteners from suddenly made our company owners an offer on the company , and after months of negotiation a suitable price was reached . Since my employers grossed 25 million last year that says something .
Basically , they needed a foothold in North America , and an established name brand with great market share , and we fit the bill . The company is based in Munich , Germany , and is a pretty fair sized multinational , so we stand to benefit greatly from their other subsidiaries , and they from us . This won't be the first time we've been owned by foreigners , but hopefully it will be the last . They're a very successful group , having done 600 million Euros(750M US) last year , and the ESOP shares I have through my previous employers have roughly tripled in value , a windfall that could easily exceed $50,000 for me . I have some debt to shrug off , as well as some home improvements to make , so this is certainly welcome news . My 401K runner over ...
Basically , they needed a foothold in North America , and an established name brand with great market share , and we fit the bill . The company is based in Munich , Germany , and is a pretty fair sized multinational , so we stand to benefit greatly from their other subsidiaries , and they from us . This won't be the first time we've been owned by foreigners , but hopefully it will be the last . They're a very successful group , having done 600 million Euros(750M US) last year , and the ESOP shares I have through my previous employers have roughly tripled in value , a windfall that could easily exceed $50,000 for me . I have some debt to shrug off , as well as some home improvements to make , so this is certainly welcome news . My 401K runner over ...
