March 2, 2010 - Jasper Engine and Transmission Exchange announces the transfer of 100% of their stock to a newly formed company - Jasper Engine and Transmission 100% Employee Stock Ownership Plan.

Doug Bawel, President/CEO, said “We are so proud of what our Associates have built the last 68 years.  We wanted to have a method to reward our people for their efforts, preserve the jobs in the Communities of Southern Indiana and Willow Springs, Missouri, along with passing along the JASPER Legacy.  It was a natural fit and the right thing to do.”

“This ESOP, unlike most ESOP’s, is 100% financed by the Shareholders”, Bawel added.  “We want our Associates to know the management team is going to be very active to make sure our Great Company is poised for generations to come. We are excited to be a part of this transition and legacy. Our Customers will continue to experience the highest quality products and service in our industry.”  He went on to add, “Our benefit and pay package remains unchanged including our very successful Quarterly Bonus and 401-K Profit Sharing Plan.”

This 100% Employee Stock Ownership Plan is an additional retirement benefit made available to All full time Associates throughout all subsidiaries of the country.