Heater Maker Red Dot Has 460 New Owners
In October, employees of Red Dot Corp. saw a 36-year-old promise fulfilled when they became owners of the company.
Red Dot has facilities in its home base of Seattle as well as three other locations: Kent, Wash.; Memphis, Tenn.; and Ipswich, England. Its sales of air conditioning and heating units for trucks and other vehicles generated $60 million in 1998.
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Harcourt “Harky” Runnings transferred ownership of the manufacturer to his “family” of 460 workers on Oct. 7. Conversion to an Employee Stock Ownership Program will be effective Jan. 1.
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Randy Gardiner, president of the company, said Runnings “feels very connected to his employees. They really are like family.”
