by: The National Center for Employee Ownership
Source: The National Center for Employee Ownership
Do you want your ESOP committee to hit the ground running? How soon can committee members start doing education and outreach? At Van Meter Industrial, no one asked these questions. Instead, the company took a careful, systematic approach to building the capacity of its ESOP committee.
Van Meter Industrial (VMI) is a distributor of electrical supplies headquartered in Cedar Rapids, Iowa. Founded in 1923, VMI is in its 15th year as an ESOP company and its third year as a 100% ESOP-owned S corporation. Over 300 people now work in the company's 13 locations, and they all have accomplishments to be proud of, from an article featuring their company in The Wall Street Journal (Feb. 7, 2008) to a 78% increase in the value of their shares between 2005 and 2006.
Link: Van Meter Industrial
Publication Date: 2008-05-01