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FOR IMMEDIATE RELEASE
In honor of October being National ESOP (Employee Stock Ownership Plan) Month, Paper Machinery Corporation (PMC) is proud to highlight the remarkable journey of transitioning to an employee-owned company. This transformation, initiated in 2016, has brought forth a myriad of benefits for both the company and its dedicated employees.
An ESOP is an employee benefit plan that gives workers ownership interest in the company in the form of shares of stock.
At PMC, the transition to an ESOP was a pivotal moment in the company’s history. It demonstrated PMC’s commitment to fostering a workplace where employees have a stake in the company’s future by linking it to their own future. The transition to an ESOP was also a commitment to the state of Wisconsin that PMC will be a part of its manufacturing community for years to come.
“Since becoming an ESOP, we’ve witnessed a heightened level of engagement from our employees. Instead of bystanders, they’ve become financial stewards. They have a desire to learn more about the business and how their knowledge and talents can be applied to improve the profitability of the company,” said Steen Coleman, Chief Financial Officer at PMC. “Our employees are no longer just workers; they are now proud employee-owners of PMC.”
In celebration of National ESOP Month, Paper Machinery Corporation will be hosting various events and activities throughout the month, including informational sessions for employees and community outreach initiatives to raise awareness about the benefits of employee ownership. These include food drives, and taking donations for Breast Cancer Awareness Month. PMC is extremely proud of being employee-owned, and we hope that our organization can serve as a great example to other companies in the manufacturing industry and beyond.
About Paper Machinery Corporation:
PMC is a global leader in the design, manufacturing, and service of machinery for the paper cup and paperboard packaging industry. Since 1951, PMC has been committed to providing innovative forming and packaging solutions to its customers all over the world.
Media Contact:
James Alexander
Associate Marketing Manager
Paper Machinery Corporation
jalexander@papermc.com | 414.362.8231