Published June 2004

Managers, workers acquire Buse Timber

SCBJ Staff

Buse Timber & Sales Inc. has become an employee-owned operation.

In March, the Everett-based company, which was founded in 1946 and run by the Buse family, was purchased by its managers and workers through an employee stock ownership plan.

Ron Smith, president and general manager, said most employees welcomed their new participation in the ownership.

Under Buse Timber’s ownership plan, 80 percent of the stock in the private company is owned by the employees. Smith and four other managers own the remaining 20 percent. All the stock is in a trust that feeds into employees’ 401(k) retirement plans.

Profits from the business can be invested in the trust or given back to employees in other forms. For example, Smith said, employees received their first quarterly bonus in May.

With annual sales of about $35 million, Buse Timber has found a niche in producing larger, premium-priced beams and boards.

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