Terra Engineering announces ESOP

Terra Engineering and Construction Corp. of Madison announced that the company will transition from family owned to employee ownership.

Twenty-five percent of ownership was transferred to the company’s non-union employees through an Employee Stock Ownership Plan. Union employees already have a pension plan in place.

The change was implemented “to reward employees for their hard work building the 45-year-old company,” according to a release.

Management changes were also announced as the company secures its succession plan.