Hannibal Industries Stock More Than Doubles Since ESOPs FormationWednesday, October 30, 2013
Hannibal Industries announced that since it became an employee stock ownership plan (ESOP) company in 2008, its share value has increased by 124%. As part of the nationally recognized Employee Ownership month in October, Hannibal Industries gave its first cash payout to an employee today.
“Five and a half years ago when Hannibal Industries was about to be sold by our parent company, we knew we could do better as a company owned by the employees. There is a pride that comes with being an employee owner,” said Blanton Bartlett, president of Hannibal Industries. “We are proud to say that after a lot of hard work and dedication to this company and its success as an ESOP, the employees have increased our share value significantly. The company has kept promises to employees, and we have committed to the success of Hannibal Industries together.”
Left to right: Hannibal Industries President Blanton Bartlett, Ruth Barajas, Arturo Barajas, Martha Barajas, Hannibal Industries VP of Finance Heidy Moon.
At today’s celebratory pancake breakfast culminating the Employee Ownership month, Arturo Barajas received a check that represents his payout as a retiring employee. Hannibal has been a stalwart leader not just in its steel products that are used globally by some of the largest companies in the world, but by being an example of financial stability through an ESOP structure.
“Hannibal Industries truly respects the job well done that Arturo demonstrated in his commitment to the company and its goals over the years. We are delighted to be giving this check out today as he moves on to the next phase of his life,” continued Bartlett.
Hannibal Industries’ ESOP was established in March of 2008. Employee ownership creates equitable wealth for employees, and research on ESOPs has shown that they build successful, competitive companies that often pay higher wages than non-ESOP companies. Additional information on ESOPs can be found on the ESOP Association website here: www.esopassociation.org.
For additional information on Hannibal Industries’ complete storage solutions and tubing offering, visit www.hannibalindustries.com. Connect with Hannibal Industries on Twitter @HannibalRack, the HannibalRack YouTube channel and on LinkedIn.View all Industry News