THE HISTORY OF MARKET FORGE
Located in Everett, Massachusetts, we are a company dedicated to excellence and rich in tradition. This company is 100% equally owned by its employees. We are a company that takes pride in the products it manufactures.
Market Forge Industries is an industry leader in
The 1920s saw the emergence of the Market Forge Company as a
On November 1st, 1993, after a series
Originally founded as an iron and metal workshop in Boston, MA in 1896, in 1991, the company that owned it, Specialty Equipment, announced that it intended to close the plant and move the operations to Georgia. However, the workers, members of USW Local 2431, were able to convince Specialty Equipment to give them time to buy it and in 1993, after two and a half years of negotiations, bought 100% ownership of the Market Forge operation through an Employee Stock Ownership Plan (ESOP). Financed primarily through concessions by the workers and bank loans, the 130 workers at the time all owned an equal share of the company and restructured their business more along the lines of a cooperative model. Faced with the common challenges for employee buyouts of older facilities, older equipment, and limited access to capital and investment, Market Forge workers have persevered for almost 20 years and continue to make innovative, high quality products.
Most recently the R&D efforts have been focused on creating environmentally sustainable cooking equipment. These efforts have earned numerous awards such as; GFEN’s Blue Flame Award in 2007, back to back Kitchen Innovation Awards in 2008 and 2009, presented at the NRA Show. These awards were for products they developed that not only reduce energy usage but also drastically reduce water consumption.