Paul Marvin, CEO of The Marvin Cos. Provided photo
Marvin Profit-Sharing Exceeds $15 Million Despite the pandemic, Warroad-based Marvin finished 2020 with a substantial profit because of a strong rebound in the housing sector.
Marvin window and door sales plummeted by 25 percent in the spring, but Marvin announced Friday that a rapid housing market rebound is allowing the company to share $15.3 million in profits with its employees.
The family-owned company, based in Warroad, Minn., established its profit-sharing tradition 63 years ago.
The business that’s long been a mainstay of the northwest Minnesota economy now operates 14 manufacturing plants in eight states. During a virtual annual meeting Thursday, Marvin leaders revealed that 5,841 employees would share $15,326,676 in 2020 profits.