Under the EOT structure, the company is now owned by a trust that holds the shares on behalf of all employees. Day-to-day operations will continue to be led by the current management team. Managing Director Mary Bisset will remain at the helm of the company, after more than 20 years with the company and eight years as Managing Director.

She stated, "This is a positive step for Marine Products. We wanted an ownership model that would protect the company's legacy while giving it the best possible platform for the future."

Employee ownership achieves precisely that: it maintains the company's independence, allows long-term decision-making, and recognizes that our people are fundamental to our success. Employees know this company best, and this structure places them at the heart of protecting its future.