Newport-based office furniture manufacturer Bisley has gifted its employees over half of shares in the company as part of succession plans.
Company owner and chairman Anthony Brown has established an Employee Ownership Trust (EOT) allowing 51% of company shares to be indirectly owned by Bisley's 500 employees based in its global offices in Newport, Dubai, New York, Paris, Germany, the Netherlands, and Ireland.
The remaining 49% of shares will be owned by Mr Brown and a few small minority shareholders. The firm said the immediate focus for the group is to manage its way through the various economic challenges in delivering profitable growth that allows the beneficiaries to benefit from being within the EOT.
