CNC Indexing & Feeding Technologies Announces Sale of Company to ESOP
April 1, 2019
CNC Indexing & Feeding Technologies is now owned by an Employee Stock Ownership Trust (ESOP). "In the transaction, current and future employees gain a beneficial ownership interest in the company without any personal monetary investment," said a company spokesperson.
"The ESOP was developed to give back to CNC Indexing & Feeding Technologies' employees and recognize that they are the drivers of the company's success," added the spokesperson. The formation of the entity's ESOP is intended to preserve outstanding customer service through increased productivity and sense of ownership, eliminate income tax obligations to federal and state governments thus allowing for reinvestment of cash back into the company for future growth opportunities, and retain and recruit top talent.
"From our employees to our customers, this is a win/win for everybody," commented Sales Coordinator Jessica Presutto.
For more information contact:
CNC Indexing & Feeding Technologies
7944 Innovation Way, Suite B
Mason, OH 45040
513-770-4200
sales@cncindexing.com
www.cncindexing.com
< back