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 managed by the current leadership team. CEO Mary Bisset will remain at the helm, having been with the company for over 20 years and serving as CEO for eight years.

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

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