Jasper Engines announces 55% stock price increase - Dubois County Free Press, Inc.

Jasper Engines and Transmissions 2014 ESOP Shareholder Meeting Emphasizes Growth

It may have been 6 a.m. the morning of June 25, but the Associates of Jasper Engines and Transmissions packing one of several break rooms in the Jasper, Ind., facility were anything but sleepy.

Quite to the contrary, the room was filled with excitement as Associates awaited the start of the fourth annual Jasper Engines and Transmissions ESOP Shareholder Meeting. The annual meetings have become much anticipated events since the company announced its move to 100 percent Associate Ownership in 2010.

Chairman and CEO, Doug Bawel, opened the meeting and provided the highlights of 2013, a record year for the company on a number of levels including dollar sales of $337,206,494; unit sales; net income; and a 401k contribution of $3,459,526.

Bawel discussed the tremendous growth that the company has experienced in terms of the expanding production and sales of its core products, as well as through that of Jasper Innovative Solutions, a supplier of fleet vehicle parts based out of the company’s Crawford County facility.

Doug Bawel Jasper Engines — (Photo from the April announcement regarding Jasper Engines and Transmissions’ expansion) Doug Bawel, CEO of Jasper Engines and Transmissions, announces the company’s plans to invest over $6.9 million to expand the several of the company’s lines. The company will purchase the former Kimball Plastics building on Power Drive to house the transmission division allowing room for expansion at the Wernsing Road location.

The company also announced, in April, the purchase of a 220,000 square foot facility on Power Drive in Jasper. That facility is currently being converted to house the Jasper Transmission Division, providing for years of additional growth of that expanding product line and to free up capacity of its Wernsing Road location for its Gas and Diesel Engine Divisions which are growing as well.

As the anticipation for the big announcement grew, Bawel asked, “Are you ready?” and announced a 55% increase in the company’s stock price.

Bawel recounted the growth history of the ESOP’s stock price starting at its initial valuation of $2.30 per share. At the end of 2010, the value had increased to $24.53 per share; in 2011 to $42.33 per share; in 2012 to $53.33 per share; and at the end of 2013 to $82.46 per share.

Bawel expressed his appreciation for everyone’s hard work and closed the meeting by saying, “Thank you. What a great company you have.”