By Staff
CASSOPOLIS -- Michael McLoughlin celebrated his purchase of K&M 20 years ago by awarding each employee $100 for each year of service -- a sum in excess of $100,000.
K&M was founded in 1951 by Earl Marhanka, McLoughlin's father-in-law.
When McLoughlin purchased the company in March 1984, K&M had 70 employees, 80,000 square feet of buildings and sales of $4 million.
Under McLoughlin's leadership, K&M has grown to 231,000 square feet with three buildings on 92 acres, 150 employees and sales approaching $40 million.
K&M fabricates, machines and assembles components for the earthmoving, mining equipment, locomotive and wind power industries.
CASSOPOLIS -- The growth that K&M has experienced over the past 20 years continues at an accelerated rate.
The shortage of qualified welders in the area has resulted in the need for the company to be innovative in hiring additional help.
To meeting housing needs of this workforce, K&M has invested more than $50,000 to build a bunkhouse on its property.
This three-bedroom bunkhouse comes complete with a full kitchen, all major appliances, washer, dryer and television.
Workers who use the bunkhouse pay a modest fee to enjoy a home-style living arrangement.