ITAMCO is pleased to announce that it has become a 100% employee-owned company through the creation of a new ESOP (Employee Stock Ownership Plan). “We’re excited to become a 100% employee-owned business,” said Gary Neidig, President of ITAMCO.
ITAMCO, an advanced manufacturing and technology firm, collaborates with companies around the globe to deliver innovative solutions. “We are proud of what makes ITAMCO unique, and employee ownership is the next step in our journey of continual improvement. We treat each of our clients like true partners throughout the business relationship process and now all of our employees will be true partners in our business as owners,” added Gary Neidig.
Employee ownership complements ITAMCO’s philosophy of always searching for best practices and innovative solutions. “Our transition to a 100% employee-owned company is a natural extension of what enabled us to become a strong, cutting-edge company. It embodies our core values of creating a culture of learning, a place to create, collaborate with others, and doing what needs to be done to get the right solution. Our ESOP is the best investment we can make in each other, our clients, suppliers and for the successful future of our business,” said Neidig.
Through ITAMCO’s ESOP plan, employees will earn shares in the business while working for the Company. The ESOP benefit is funded entirely by Company contributions and requires no out-of-pocket investment by employees. Employee ownership ensures ITAMCO’s continued ability to serve clients as an independent enterprise while sharing in the Company’s long-term growth and success.
Neidig goes on to state, “With the best interests of our stakeholders in mind, becoming a 100% employee-owned business secures the Company’s future for all. With this approach, we keep operating with existing leadership without missing a beat. We’ll maintain everything that’s great about ITAMCO and transition to employee ownership smoothly. We believe our employee-owned culture and benefits will help us retain our talented employees, recruit new talent, and continue to provide exceptional services across the country and throughout the world. Our ESOP is the perfect embodiment of our company culture where we work as a team. Our company stands here today because of employees’ efforts day in and day out and I’m thankful for each one of our new employee owners who made this transition possible. ITAMCO’s goal is to be a partner for its clients, not just a manufacturer. Now as an employee-owned company, that goal is truer than ever before.”
