As an ESOP, Malco employees have a vested interest in the company’s successes, and they can learn how their department’s performance affects the bottom line.
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One hundred-year-old Twin City Die Castings began 2020 with a teeming order book that continued into the final week of March, even after the coronavirus pandemic began shredding the U.S. economy.
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HECTOR, Minn. — As of January 1, 2020, Loftness Specialized Equipment, Inc. has joined an employee stock ownership plan (ESOP). Through this change, the Minnesota-based manufacturer of agricultural and vegetation management equipment is now 100-percent employee-owned.
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For many business owners, a succession plan is about more than creating an exit strategy or profiting from the sale of the company. It’s about preserving a legacy in a way that benefits the company and its employees as well as the business owner(s).
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