MFM Building Products is now an ESOP (employee stock ownership plan) company as of July 1, 2017.

The headquarters of MFM Building Products in Coshocton, Ohio.

“This move to become an ESOP company has spurred an exciting time in MFM’s history,” said Tony Reis, vice president and general manager. “Our employees have found a new dedication to producing the best waterproofing barriers in the industry and there is a lot of pride in what we provide our customers.”

According to Investopedia, “An employee stock ownership plan (ESOP) is a qualified defined-contribution employee benefit (ERISA) plan designed to invest primarily in the stock of the sponsoring employer. ESOPs are ‘qualified’ in the sense that the ESOP’s sponsoring company, the selling shareholder and participants receive various tax benefits. ESOPs are often used as a corporate finance strategy and are also used to align the interests of a company’s employees with those of the company’s shareholders.”

MFM Building Products was founded in 1961 and is a manufacturer of exterior, self-adhering waterproofing membranes for the construction industry. The company produces more than 30 different products that include low-slope roofing membranes, roofing underlayments, window and door flashing tapes, multi-purpose waterproofing membranes, specialized waterproofing tapes, and HVAC duct and pipe wrap.

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